Adobe Flash Player for Android has been updated to fix some potential security issues. The update to is recommended, as it addresses a vulnerability where an attacker could crash the application, and gain unwanted control over the system. Don't be alarmed, these issues (like most others) aren't out in the wild and are the result of researchers trying to break things. They find 'em, Adobe fixes 'em.
But do take the time and update. There's no sense in using a version with known security bugs. There's a link after the break to the Market where you can find your fix.