A critical vulnerability exists in Adobe Flash Player 10.2.152.33 and earlier versions (Adobe Flash Player 10.2.154.18 and earlier for Chrome users) for Windows, Macintosh, Linux and Solaris operating systems, Adobe Flash Player 10.1.106.16 and earlier versions for Android, and the Authplay.dll component that ships with Adobe Reader and Acrobat X (10.0.1) and earlier 10.x and 9.x versions of Reader and Acrobat for Windows and Macintosh operating systems.
This vulnerability (CVE-2011-0609) could cause a crash and potentially allow an attacker to take control of the affected system. There are reports that this vulnerability is being exploited in the wild in targeted attacks via a Flash (.swf) file embedded in a Microsoft Excel (.xls) file delivered as an email attachment. At this time, Adobe is not aware of attacks targeting Adobe Reader and Acrobat. Adobe Reader X Protected Mode mitigations would prevent an exploit of this kind from executing.
The best way to play Flash stuff is to use the latest Google Chrome browser (version 10) with Flash player sandboxed.