Thanks for your reply Ariana.

I tried updating Flash, but it was already the most current version.

I couldn't find the drop down menu that you talked about, but instead i went to 

Edit --> General Preferences --> Interface: Launch to Factory State
                                                -->  Library: Embedded

The library window has returned! However, it's completely empty.
I got some weird error message when i first tried reloading it, so ill google the code and see what pops up.

Hopefully this helps anyone else having the same problem.