From the Microsoft forums, it would appear that several people (including me) have been having problems with the latest Windows Update.
The update in question is KB913433 - Security Update for Flash Player. As far as I can tell, this update is only supposed to apply to Flash versions 6.0.79 and earlier (see click here), but Windows Update is still trying to apply it to later versions and failing. See
From what I can tell, the source of this issue (assuming one is already running a version of Flash later than 6.0.79) is two-fold.
Firstly, when a later Flash version has been installed, the old Flash.ocx file has not been deleted. This is apparent with later versions which don't use a file named flash.ocx. For example, I have v126.96.36.199 and the file is named Flash8a.ocx.
Then, Windows Update detects the old flash.ocx file and attempts to install the fix. At that point, it seems to realise that there is, in fact, a later version installed and the update fails.
The real solution (for Windows Update) is for Microsoft to detect the correct version that is currently installed.
The simple workaround is to delete flash.ocx (or just rename it if you wish to be cautious).