I haven't had a problem and I'm using more of a later version than that even and didn't have a problem with 7.23, but all were on a clean install, so I have opera 7.50 preview 2.
Works just fine with the latest version of flash player, get that from
http://www.macromedia.com/shockwave/...ShockwaveFlash
It works just fine for me, if not, look at backing up your skins, book marks.
Then delete the opera profile and uninstall opera and do a clean install. Do this if your still having a problem Gilthanaz.