I went through three hours of sheer technical support hell over this - so wanted to get the information out there.

There's a Flash MX 2004 Upgrade (to 7.2) on the adobe website, that claims to "improve performance and stability".

They don't tell you that on some Windows machines, it will completely de-activate all installed Macromedia products, rendering them unusable (as re-activation doesn't work.)

They (as far as I'm concerned) have admitted fault through a ServiceNote, claiming a fix, to the bugfix (that created a major bug,) available here:

Adobe ServiceNote: Reactivation failure after upgrading to Flash 7.2 [adobe.com]

This though, didn't work. I had to uninstall all Macromedia programs, wipe the licenses using their License Cleaner, remove a Macrovision directory from the Application Data directory, and reinstall the programs. Without the Flash 7.2 Update.

I will be asking them to remove the update, fix the update, or notify of the fact that on some computers, the update will completely de-commission all Macromedia products.

In case anybody still uses Flash MX 2004, and is thinking of applying any updates, I wouldn't recommend it.