OK, finally got FlashPlayer installed.
It is a [ridiculous] SIX+ part solution.
First, log out of your non-admin account.
Second, log into your admin account. NOTE, you can't just
fast user switch as it won't work. This was what prevented it from
working for me earlier.
Third, if you are running a non-Safari browser you need to
either delete the application or change the permissions on part of
the application per this tech note:
http://kb.adobe.com/selfservice/viewContent.do?externalId=4aa64290&sliceId=1
Fourth, run Disk Utility and repair permissions.
Fifth, run the installer.
Sixth, if you had to change permissions per the tech note,
change them back.
Seventh [optional], run Disk Utility and repair permissions
to fix the broken ones from the FlashPlayer install.
For a major software company to be unable to get an
installer! correct is really, really embarrassing. It NEVER tells
you that it needs to be run from the admin account, probably
because the earlier versions would prompt you for your admin
password, but this latest update doesn't. Oops.