@conditioned so what fixed your problem? If it was clearing both folders, then it was corruption in flash.
For anyone new coming here, new issues may be related to flash 11.3's protected mode: http://support.twitch.tv/discussion/4269/supported-and-u…
@conditioned you had a corrupt flash install if you couldn't change settings but deleting the folders fixed it.
I did change settings and my install wasn´t corrupt since it worked everywhere else. Changing settings didn´t work to fix the problems wi…
I changed around some settings, which didn´t work for me. After that I deleted:
%APPDATA%\Adobe\Flash Player
%APPDATA%\Macromedia\Flash Player
This should reset all (global?) settings for flash. Seems to work now in IE9, Fx13 and Chrome.