Adobe Security Bulletin here:
Adobe - Security Bulletins: APSB12-07 - Security update available for Adobe Flash PlayerAdobe blog entry discussing how the updater works here:
These priority 2 updates address critical vulnerabilities in Adobe Flash Player 126.96.36.199 and earlier versions for Windows, Macintosh, Linux and Solaris, and Adobe Flash Player 188.8.131.52 and earlier versions for Android 3.x and 2.x. These vulnerabilities could cause a crash and potentially allow an attacker to take control of the affected system.Adobe recommends users of Adobe Flash Player 184.108.40.206 and earlier versions for Windows, Macintosh and Linux update to Adobe Flash Player 220.127.116.11.
Introducing Adobe Flash Player Background Updater for Windows | Adobe Developer Connection...
At the core of Adobe Flash Player Background Updater is a scheduled task in the Windows Task Scheduler (see Figure 2) and a Windows service (see Figure 3). These two elements ensure that Flash Player remains up to date with the latest patches and updates. The Windows service used for Adobe Flash Player Background Updater is launched on an as-needed basis by the scheduled task and is therefore dormant for most of the time, saving memory and CPU resources.