Not necessarily. Your AV program is actually loaded long before you can actually use your OS, so that's not a concern, and the Adobe Updater program is set to run as soon as Windows boots, so that isn't necessarily a concern either. The problem comes in that there is a bit of malware which tries to replace the Adobe Updater.
So if you engage in any risky behaviors, it's entirely possible you've contracted this. Risky behaviors might include using Internet Explorer, Outlook, Outlook Express, any pirated programs, or any file sharing (P2P) programs.
This has been happening for a few months now and I haven't found a good response, so I thought I would ask it here. I have noticed an update dialog from Adobe that shows up when I reboot my PC. Not all the time, but just every so often. The thing that concerns me is that it shows up before my AV software and Firewall start. It wants me to click a link to update Adobe (either Flash or Reader) before I know my PC is safe to be on the internet.
Is this really a virus/trojan disguised as an Adobe Update?
I have looked an I am using the latest Flash Player and Reader software. That is why I get concerned.