i noticed that the settings manager is infact a flash program, and when i right click that and check it, the local storage for macromedea.com itself is even set to none.... does this mean i cant use the setting manager to change the settings from none because the settings are set to none ........... settings....
I don't have Win7 but should not matter which windows you have. Location and values for this *STUPID* top secret config file I am about to refer to should be the same for any version Windows.
In fact, after reviewing your issue again, you might simply be victum of corrupted 'settings.sol' file. If that is the case you might try using only the first 2 steps in my hack instructions. After you complete step #2, just delete the 'settings.sol' file, restart your browser, go run a Flash video and Flash Player will see the config file is missing so it will create a nice clean virgin copy from scratch. Can't hurt to try.
Now what I was about to suggest at first, if you have a slight understanding of hex code and want make permanent adjustment to the default setting then try following my hack, step 1 all the way through to step #6. WOrking really great for me. Not totally hating the app and cursing the programmer every time I use it now.