Despite Adobe’s best efforts to badly communicate with the public yet again, Adobe Flash, AIR and Flex is alive and well. they are only stopping development of the Flash mobile player which really means Android and Motorola web browsers that currently play flash content.
Adobe is focusing more on Flash platform development for the desktop and installed applications, which really means the AIR platform and the packagers for iOS and Android install applications.
There are many stories, blogs and articles around the web but I suggest people actually read the Adobe press releases rather than jump to conclusions from people and sites that are either ill informed or just plain wrong.
You can find more details on the Adobe site at this link
Personally, I actually think this is the right thing to do and focus more on application development than trying to optimize the player for web playback on mobile devices.
