I once had this problem, with Flash 10.x, but I fixed it with NPSWF32.dll file added to my FirefoxPortable\Data\plugins directory.
When Flash moved to 11.x version, the same problem, but it was harder to find a solution.
I found it here: http://notepad.patheticcockroach.com/2243/flash-11-for-portable-browsers...
Works just fine with most recent pages needing Flsh 11.x