UPDATE:

Adobe has since released an update of Flash player to patch this critical vulnerability. All you have to do is simply update your Flash player to the current edition with no worries.

The patched update for Adobe Reader will be arriving sometime later at the end of June.

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Adobe issued an alert late Friday night to warn about zero-day attacks against an unpatched vulnerability in its Reader and Flash Player software products. The vulnerability, described as critical, affects Adobe Flash Player 10.0.45.2 and earlier versions for Windows, Macintosh, Linux and Solaris operating systems.   It also affects the authplay.dll component that ships with Adobe Reader and Acrobat 9.x for Windows, Macintosh and UNIX operating systems, Adobe said.

Adobe has stated:

Some of you who have bought new computers may have either upgraded (for free? just guessing, since I did) to Windows 7 or had one already pre-loaded with it.

Windows 7 is pretty nice - faster, not as annoying as Vista - but it does have an issue:
Compatibility.

However, if you are lucky enough to get the "Ultimate" version, Microsoft provides you with Virtual Machine, a way to run XP and Visa inside a new window inside Windows 7 - allowing you to run older software.
If you have the "Home Premium" edition, though, you're out of luck.