I think Macromedia Flash Player 7 is very old. Flash was originally developed by Macromedia and some years later it was purchased by Adobe. Now Adobe makes- Flash for IE Browsers, Flash for Non-IE Browsers and Shockwave. These programs are not user driven applications per se', they are browser extensions or plug-ins. (I am sure I will be corrected by someone here.)
Nevertheless, these products are widely used in feature rich web sites that serve audio and video.
Yes, I would recommend that you uninstall old versions of flash and shockwave because they are insecure and could be causing problems with newer versions.
When you have Flash and Shockwave installed correctly they will show up in your Add/Remove Programs list. However, these programs will never show up on your Windows "All Programs" list because they are considered extensions or plug-ins.
You can test whether or not your flash (and shockwave) is installed and working by visiting this page at Adobe for testing-
»www.adobe.com/software/flash/abo ··· h/about/