The difference between the Flash and Shockwave Players :
Flash and Shockwave Players are both free web Players from Adobe. Together, they bring you the best rich media content on the Internet. Each has a distinct purpose. Flash Player delivers fast loading front-end web applications, high-impact web site user interaction, interactive online advertising, and short to medium form animation.

Shockwave Player displays destination web content such as interactive multimedia product demos and training, e-merchandising applications, and rich-media multi-user games. Through Xtras, Shockwave Player is also extendable to playback custom-built applications.

Homepage - http://www.adobe.com/shockwave/