So I had same problem and I found this article:
http://scn.sap.com/docs/DOC-56151

Now looks ok. In the power point there are two ways to insert swf (probably there are more, but I know just two).
- using developer tab. This is working with the new beta Flash player version no 14.0.0.160
- copy / paste (or insert video from my PC). this is still wrong and got a black white screen.

Regards