UPDATE 25Feb2008 - Adobe has published the recommended workaround for this problem.
This is another major release - I rewrote some of the code with some inspiration from Zelph.com’s onDOMload as suggested by Geoff Stearns, Author of SWFObject. I have now optimized the code to the point where all you need to do is include it in the head of your document and as the page loads, each object will be fixed, so by the time the page is done loading, everything is fixed automatically!
UPDATE 19Jan2007 I found yet another IE bug related to this topic. After a page is cached by IE and reloaded, the SWF is loaded before it’s embedded, so any callback functions the the SWF tries to setup when it loads (like the JS->Flash ExternalInterface code) will fail with an error “objectID” is undefined. Then when you try to use the callback function you get Object doesn’t support this property or method because the functions didn’t get assigned to the Flash object properly.
To fix this error you need to put this line above your SWFObject code (or above your tag):
window["objectid"] = new Object();
Here’s an example document: http://devel.teratechnologies.net/swfformfix/extinterface-swfformfix2.php
You can download SWFFormFix2 Here: http://devel.teratechnologies.net/swfformfix/swfformfix2.js
You can see the nicely formatted and highlighted source code here: http://devel.teratechnologies.net/swfformfix/swfformfix2.js.source