I have solved the problem by downgrading to adobe-flashplugin_188.8.131.52. Thanks for idea))
Problems here also.
Ubuntu 10.04 did a flash upgrade last night and this morning flash would not work for a streaming radio station. Also noticed some (but not all) youtube videos would not play. Solved with the cuyo01 solution, downgraded the libflashplayer.so file to 11.1.R102 from the adobe site. My system is 32 bit, Athlon XP.
I managed to fix this problem with the solution in post 11 (thanks!). Next morning I came in to the living room and my son was watching Antz. I couldn't believe the problem had now shifted to mplayer and I spent five minutes fiddling with various settings before I realised it was actually A Bug's Life.
However, for Firefox I had to also copy libflashplayer.so to /usr/lib/mozilla/plugins.
I don't know if this is because as part of my attempts to fix the problem I had previously used the Firefox Flash-Aid.
Firefox will first look into /usr/lib/mozilla/plugins and will be redirected to /usr/lib/flashplugin-installer/libflashplayer.so by a series of symbolic links, if it finds a flashplugin-alternative.so instead of libflashplayer.so, which happens if flashplugin-installer is installed.
However, keep in mind you don't need flashplugin-installer. In fact I don't even recommend keeping it when installing flash downloaded manually from Adobe, because in the next update it will be replaced. Just remove flashplugin-installer and extract the libflashplayer.so downloaded from Adobe into /usr/lib/mozilla/plugins.
Flash-Aid can do all that for you as well. Get the flash player version you need from Adobe. Extract the archive, find the tar.gz file corresponding to your architecture and copy it (don't extract it). Open Flash-Aid Advanced mode, select "Custom" in the installation option, paste the tar.gz path in the field. Click the Script tab, then Execute. Flash-Aid will remove all installed flash versions and install the one from the tar.gz file in the proper location.
Using LovingLinux's method, with flashaid. It works. RELIEF! Now how long do we have to wait for a fix in the update? Ubuntu 11.10.
Pray for acceptance of the HTML5 video/audio standard. Down with Adobe Flash...
Anyway, I guess the problem might disappear with Ubuntu updates, since this is an old issue that comes and go.
If the problem continues indefinitely, then the only viable alternative would be to Switch to Chrome when Flash Pepper comes out.