This Coby 7012 has been a big disappointment. I have followed the threads above to upgrade the Flashplayer and nothing works. Why bother to put Youtube on it if you can't watch video? What a waste of money.
[UPDATED APP] FLASH PLAYER 10.2 FOR ARMv6 AND ARMv7 ANDROID PHONES - xda-developers
Found that post and going to try the apk.