@zalex108 ok, after reading through that post you link it seems to be the same issue. I installed 48, copied the profile files over, still doesn't work. At least I know it's a flash issue. I tested to see if flash gets detected and it says it isn't installed or running. I'm fine with that as I don't want it on my system anyway, but why aren't html5 videos working though? As far as I am aware HTML5 and flash are 2 different beasts.
I think we can just finish this debugging session, I'll just wait a few more weeks for another update where this might get fixed eventually. Considering I'm getting this error on different OSs as well with the same Opera version I don't think it's something I need to install extra for the browser.
Thanks for the help.