Until now I had been using Gnash, the extremely poor open substitute of Flash, which is actually unusable for any real purposes.
A couple weeks ago I read that it could be possible to have Flash on ARM by using the Flash Player that Adobe develops for the Chrome OS (used on the Samsung Chromebook ARM laptops).
So I found a page (see Reference below) that described what to do and, most importantly, provided the ARM compiled library that contains the official Flash Player.
Hence, the steps to have Flash up and running on the Chromium web browser in Picuntu (Xubuntu 12.10 for RK3066 devices) are:
1) Download compressed library
2) Copy the .so file to /usr/lib/
3) Change the Chromium shortcut from just:
chromium-browserto the following single line:
chromium-browser --ppapi-flash-path=/usr/lib/libpepflashplayer.so --ppapi-flash-version=11.5.31.105 --ppapi-flash-args=enable_hw_video_decode=0,enable_stagevideo_auto=0,enable_trace_to_console=04) Open Chromium and enjoy the real Flash, only limited by the maximum speed of your stick!
Reference
http://forum.xda-developers.com/showthread.php?t=2010440