Hi raikkonen,
the AJax Control Toolkit supplies us with a HoverMenu. Download the toolkit and open the sample site with VS.NET 2005 and view the sampler to see if it will work for you.
/SampleWebSite/HoverMenu/HoverMenu.aspx
You should be able to place server conrols (dropdownlists or whatever) and have that display with a mouse action.
The PopupControl might be an even better option
/SampleWebSite/PopupControl/PopupControl.aspx
hope this helps
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