Adobe has patched seven vulnerabilities in its Flash and Air platforms and one in Reader and Acrobat that is being exploited by attackers.Sort of the usual opening to these sorts of reports. Notice the part about being actively exploited. Flash, of course, is the technology that drives Youtube and other Internet video. Reader is what is very often used to read PDF files. That means that pretty much everyone needs to get these updates, tout suite.
The vulnerabilities could allow attacker to "take control of affected systems" dubbed critical by the company.
The Flash update can be found here. The Reader update is here.