I have installed the standalone version for ppapi 220.127.116.11. When I launch Google Chrome and go to the flash test site from Adobe, it says that 18.104.22.1686 is still installed on the system. Thoughts on how/why this is not updating?
Have you updated chrome browser to latest. Flash player comes embedded with chrome. When you update the browser to latest chrome 49, it will have flash player 22.214.171.124.
Google embeds Flash Player in Chrome and only uses the embedded version (unless specified, via command-line argument to use a different version), so there is no need to install Flash Player for Chrome separately. The PPAPI installers provided are for Chromium-based browsers, such as Opera, that do not embed Flash Player.
For the 126.96.36.199 release, Google released the update as a component update instead of a full Chrome update. It's possible your version of Chrome hasn't been updated, or something went awry with the update (I've seen this happen when Google released Flash Player as a component update). Please do the following: