Adobe security bulletin reports that critical vulnerabilities have been discovered in Shockwave player (V 22.214.171.1241 and below). when exploited, it could allow an attacker to run malicious code and/or obtain control of the affected system.
Adobe has released an update to address these issues. updates can be obtained here: http://get.adobe.com/shockwave/.
Further information on the vulnerabilities can be obtained here: http://www.adobe.com/support/security/bulletins/apsb09-16.html
Just a note: We've found the installation more successfull if the previous version of Shockwave is uninstalled from the Control Panel FIRST.. A few installs using the "slim" installer failed until the previous version was removed..
In addition, the new 126.96.36.1992 version is only supported on Windows XP SP2 and later..
Hope this helps.