If you have 'Full Access' I've done a video about doing bends that covers how you can bend up and down, mute strings while your bending and so forth...

http://guitartricks.com/lesson.php?input=9359


I'll be upgrading this video in more depth in the next couple of months with a Hi-Def version as well as some Jam tracks you can use to jam to.

But for now, this video pretty much goes into a complete explanation of doing bends.

Personally, I tend to use just one finger to do my bends with and the reason why is explained in the video.