Okay so like everyone else, I had no idea flash is not really supported for the stock browser in the new Android version so I did the update without waiting for other feedback and I got screwed.
I travel a lot and I love my phone. I stream a lot of movies from different websites that use jwplayer... So I kinda need flash. ICS destroyed all that for me and a great while I have been unable to use it. I read the forums and found out some users were saying their flash is working while others were stuck with a non working flash on the device...just like me. I tried everything. Clear the cache, factory reset, root unroot, factory reset without the google auto recovery and reinstalled a fresh copy of flash... Nothing worked for me. Then I found the .215 leak on the net and decided to give it a try. Screwed up my root but I was able to recover it with Voodoo Root Keeper.
I had some issues with my RAZR - my data would drop instantly and I am still looking for a fix for that. I decided to FDR again and again and again but my root would be protected and superuser app was still there after the FDR. I decided to delete it and revert my phone to .211 again. I used DR Utility 1.8 to FLASH my phone back to .211 then installed the leaked .215.
Then I looked on the net for Flash and installed Adobe Flash Player 184.108.40.206 (search for it) and.... a miracle happened. My flash works great. It works in all browsers including stock and I only have a minor issue with it. Sometimes I have to kill the browser to navigate to another page but IT WORKS. Seems that after the OTA to ICS there are some things left in the system even if you do a Factory Erase... I guess re-Flashing the ICS on the device solves the problem. Flash is great... I am so happy that 2 months after not being able to see any flash animation I regained control over my device again and I can use it any way I want to. Good luck.