Adobe has published a Security Bulletin (APSB10-06), which announces the availability of a security upgrade for its Flash Player to versions 10.0.45.2. (Adobe’s AIR product is also upgraded.) The upgrade addresses two security vulnerabilities (CVE-2010-0186 and CVE-2010-0187) that could be exploited by malicious Flash content. Adobe characterizes this as a Critical update. It is applicable to all platforms (Windows, Linux, and Mac OS X).
The new version can be downloaded from the Flash Player Download Center. Given that Flash Player is one of the most widely deployed and used browser plugins, it is an atrractive target for the Bad Guys; so I recommend getting the updated version as soon as you can.