Is this the internal or external Library?  The Internal Library uses Flash, but the External LIbrary uses Adobe Air.  I'd first try switching to the other Library and see if that resolves it.  Then update the approipriate Adobe software, and finally rename LibraryPrefs.xml to something else and see if Poser's re-creation of that file works. 

If the latter works, you can edit it with a text editor to add the external runtimes from the file you renamed...

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