OK folks.
I couldn't make this (or anything similar) work for the life of me. Then I had an epiphany.
Having already installed
MP3 Player in Profile, the 1pixelout flash player already existed on my server! Therefore, for whatever reason, calling the new one wouldn't work.
So I simply changed all of the file paths in the replacement code to that of my existing player. VOILA!
I removed the duplicate player from my server, and I'm pleased as punch.
Hope this helps somebody out.
*Installed*