Embedded Flash Warning in Powerpoint 2003-2007

We use Powerpoint 2007 at work and ever since our adobe flash got updated to version 11 we keep getting a warning on every slide we have embedded a flash video for training. This is very annoying and embaresing when presenting a training seminar with our powerpoint presentation. I tried the following suggestions as to go into the flash settings and allow trusted locations with the folder that contains the powerpoint file and still get the flash warning. I've also tried to go into powerpoint settings and allow the same folder that contains the powerpoint file to unrestrict flash files. I don't really want to upgrade to Office 2010 at the moment as I have read in other blogs that's one solution. Please help as I don't want to revert back to flash version 9 either.