I'm using ASUS laptop with an OS Windows 7.
Recently I received a message say I needed to update my Flash Player to watch videos on you tube.
I did this but still getting same message.
Also, I cannot drag my slider bars with cursor like before... I have to keep clicking the up or down arrows.. Can anyone help?

No,you need to update your flash player for 11.0

I would suspect a addon issue with Internet Explorer.

Click Start -> Control Pannel -> Internet Options
Open the Tab far right (Advanced)
At the bottom click "Reset"

After reset, update flash again -> www.adobe.com/support/flash/downloads.html

Hope this helps
Grant