I have two entries for Adobe Flash Player in Add / Remove programs (10 Plugin and ActiveX).
I have nothing under Program Files \ Adobe for Flash Player (or Shockwave), only Acrobat reader.
I thought that Flash was designed purely to BE a browser plug-in!
Just a thought - if you are running something other than MS IE as your browser and have Flash player enabled there but not in IE, maybe the software is looking at IE and not finding it.
SD