This happened to me a while back and I fixed it by going into the Font Book app and turning off all but the required apps that were locked. (Noticeable by the lock icon on the bottom of the right hand corner). I heard this issue effected only Snow Leopard users but I am currently running Lion.
Mac OS X (10.7.2)
Open System Preferences / Flash Player
Select the Advanced tab.
Click Delete All under Browsing Data and Storage
Then restart your Mac.
Open System Preferences / Flash Player
Select the Advanced tab.
Click Delete All under Browsing Data and Storage
Then restart your Mac.
Sorry if it seemed that I was asking for an answer but I was posting a solution to one of my problems to help others thank you though.
Carolyn, your solution worked for me. Thanks for sharing!
The cpu usage for the "fontd" process was at 50% when I started the Flash Player.
