"Settings" does not appear when right clicking on You Tube video. Player appears to be most recent and working well according to Adobe support test. Overall problem is constant rebuffering while streaming live video. not my ISP; works ok on other computers from same router. Just upgraded to Windows 8.1; no change.
Control Panel>System and Security>Flash Player (32bit)
THAT will open your Global Settings for Flash Player.
Also: http://www.macromedia.com/support/documentation/en/flashplayer/help/settings_manager04.htm l will allow you to change settings through your browser.
Thanks Mike. I guess I didn't explain myself correctly. I can open the Global Settings dialog. I'm having problems opening the Settings dialog. That's the one where I can turn Hardware acceleration on/off. I should be able to right click on an active streaming video and "settings" would be one of my options. But it doesn't appear.