Director is useless to me until this bug is fixed. I have to re-publish all of my projectors to run in Lion, and they all contain embedded fonts.
This patch was released as 11.5.9 a couple of weeks ago. See this thread:
You should be able to get it through the Help / Check for Updates menu - but I would definitely be aware that it seems to have created a couple of new issues for some users (documented in other forum posts at forums.adobe.com).
I've got the patch. I can get embedded fonts to display properly in Director the first time a file is opened and converted, but on subsequent openings, it goes back to displaying a default font. And they still aren't displaying in projectors I create.