I found this while digging into this new beta player a little further...
"C:\WINDOWS\system32\Macromed\Flash\GetFlash.exe" - yours might be in a different location. If you click settings then, it takes you here: http://www.macromedia.com/support/flashplayer/help/settings/global_notify.html
Rock! I heard this was a new feature, but it was cool to see it in action. I think it's a tad buggy though... It told me there was a new player available when I already installed the beta a few hours ago...
Some stuff I found as well (that I haven't seen posted anywhere yet)
onMouseWheel
shutdownURL
onConstruct
// has the petition been heard??? It looks like it
onLoadStart
onLoadComplete
onLoadProgress
onLoadError
LoadNeverCompleted
URLNotFound
onScroller
onUnload
onInitialize
HttpAddRequestHeaders
HttpSendRequest
HttpOpenRequest
InternetErrorDlg
InternetCloseHandle
InternetReadFile
InternetQueryDataAvailable
There's also still references to "Tin Can" which was the beta test code name for FlashComm..
Alright, that's enough for one evening...

This is only cool when you run your system as administrator all the time - bad idea!
In wellmanaged company networks, it is just an irritating popup that will not accomplish what it wants to do (no permission).