There is a technote on macromedia.com that explains how IT admins can
disable autoupdate through a local file setting.
http://www.macromedia.com/go/16701594

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Michael Williams
Flash Player Engineering
Adobe Systems, Inc.

I am planning on deploying Flash Player 8 to my corporate environment via SMS.
The SMS distribution works like a champ, but I cannot seem to locate a method
of disabling "check for updates automatically" programmatically. Is this
possible? I know that you can go to the Flash Global Notification Settings
site, which changes the settings on a particular machine, but cannot locate a
method of setting this option at installation time across my enterprise.