Hi alebianco
"Again, would be nice to see a proper plan in place to fix the situation."
Google has not enabled the use of the non-embedded PPAPI plugin for Chrome on OS X. Please file a bug with Google to implement the non-embedded PPAPI plugin on Chrome (Report an issue - Chrome Help). The alternative to Piyush's suggestion above is to use Opera browser, which has enabled the use of the PPAPI plugin, release and content debugger.
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Maria
Since build 317656, chromium automatically uses the system version of Pepper Flash and chrome will, too, if you use the --disable-bundled-ppapi-flash option.
It doesn't work, however, apparently due to how Adobe ships the Pepper Flash plugin's manifest.json with x-ppapi-arch set to mac. There is an issue open for this: Issue 470737 - chromium - Mac: Pepper Flash system installed plugin does not load due to x-ppapi-arch change in manife…
Since Adobe made that change, Google will have to change CheckPepperFlashManifest to accep the new value.
In the meantime, users apparently can 1) close chrome 2) edit their manifest.json and change "x-ppapi-arch": "mac" to "x-ppapi-arch": "x64" and then save the file and 3) restart chrome.