Another version of (adobe's) Shockwave Player has been released.   I will get to the details in just a bit... but wish to preface it with a comment:

For many years, I had kept shockwave on my computers.   But, aside from running a test at its website, I don't know that I've EVER used it elsewhere.   Accordingly, I have uninstalled it from all my PC's, and have yet to miss having it.

I'm sure SOMEONE out there will be using shockwave.   If you do (perhaps for gaming??), you'll want to keep it.   And if you want it, it should always be kept up to date (to confront the latest vulnerabilities that have been found in older versions).

If you don't use shockwave... or if you're unsure whether you do... I would suggest you simply remove it from your system.   Should you subsequently encounter a website (or program??) that requires it, it will let you know... and you can easily download/reinstall it at that point.

Having said this, I will no longer be mentioning future shockwave updates.   Shockwave users should continue to look for them on their own.

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The following advisory has been copied/pasted from http://secunia.com/advisories/38751/

Description
Some [highly critical] vulnerabilities have been reported in Adobe Shockwave Player, which can be exploited by malicious people to compromise a user's system.

1) A boundary error while processing FFFFFF45h Shockwave 3D blocks can be exploited to corrupt memory.

2) A signedness error in the processing of Director files can be exploited to corrupt memory.

3) An array indexing error when processing Director files can be exploited to corrupt memory.

4) An integer overflow error when processing Director files can be exploited to corrupt memory.

5) An error when processing asset entries contained in Director files can be exploited to corrupt memory.

6) A boundary error when processing embedded fonts can be exploited to cause a heap-based buffer overflow via a specially crafted Director file.

7) An error when processing Director files can be exploited to overwrite 4 bytes of memory.

8) An error in the implementation of ordinal function 1409 in iml32.dll can be exploited to corrupt heap memory via a specially crafted Director file.

9) An error when processing a 4-byte field inside FFFFFF49h Shockwave 3D blocks can be exploited to corrupt heap memory.

10) An unspecified error can be exploited to corrupt memory.

11) A second unspecified error can be exploited to corrupt memory.

12) A third unspecified error can be exploited to corrupt memory.

13) A fourth unspecified error can be exploited to cause a buffer overflow.

14) A fifth unspecified error can be exploited to corrupt memory.

15) A sixth unspecified error can be exploited to corrupt memory.

16) A seventh unspecified error can be exploited to corrupt memory.

17) An error when processing signed values encountered while parsing "pami" RIFF chunks can be exploited to corrupt memory.

Successful exploitation of the vulnerabilities may allow execution of arbitrary code.

The vulnerabilities are reported in versions 11.5.6.606 and prior on Windows and Macintosh.

Solution
Update to version 11.5.7.609.