Hello Frank,

Flash Player allows you to watch flash videos say on Youtube or any other site that has them.

The current version of Adobe Flash Player is 11.2.202.233. If you like you can update from Adobe directly at the link below to see if that stops this notice. If it does, then it's most likely legit then.

Adobe - Install Adobe Flash Player

Hope this helps,
Shawn

Your Flash Player is outdated. The current version that I have installed is 11.3.300.231 This is a Beta version, available from Download Adobe Flash Player 11.3 Beta for Desktops - Adobe Labs

I recommend that you download and run the uninstaller. If prompted, restart your computer. See Uninstall Flash Player | Windows

Next, download and save the current version to your computer. See Adobe - Install Adobe Flash Player This will be the current release version, 11.2.202.233 If you wish, you can download the Beta version instead - see link above. Once downloaded, run the file from its saved location. Restart your computer if prompted.

Yeah, only Windows 7 includes 64-bit web browser support, but you can still install it for your 32-bit web browser in Vista 64-bit though. For example, for the Internet Explorer in the Program Files (x86) folder.