Well it looks like microsoft screwed this update up, least on my machine.
Last night I was informed that a security update had been applied. I rebooted and went to sleep. Windows 7
Cumulative Security Update for Internet Explorer (980182) had been applied and caused my machine to no longer play any video.
This includes Flash,Silverlight, AVI, WMV, and any other video format to load, show first frame and then lock up.
The only way I fixed this and figured out it was the update was to do a system restore to last nights state.
I hope microsoft fixes this issue, as of now, I have to ignore this security update.