Ho copiato pari pari da youtube (cioè ho aggiunto il tag <embed>), così sembra funzionare:
<object id="dblog_mp3player" style="width: 254px; height: 60px;" codebase="http://fpdownload.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=7,0,0,0" classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" align="middle" height="60" width="254">
<param value="8440" name="_cx">
<param value="1588" name="_cy">
<param value="" name="FlashVars">
<param value="http://www.layoutmyspacecodes.com/mp3/FMP3.swf?action=stop&mp3=http://www.retrogamer.it/radiogame/RADIOGAME%20002%20HURRY.mp3&title=RADIOGAME 002 HURRY" name="Movie">
<!--<param value="http://www.retrogamer.it/radiogame/RADIOGAME%20002%20HURRY.mp3&title=RADIOGAME 002 HURRY" name="Src">-->
<embed src="http://www.layoutmyspacecodes.com/mp3/FMP3.swf?action=stop&mp3=http://www.retrogamer.it/radiogame/RADIOGAME%20002%20HURRY.mp3&title=RADIOGAME 002 HURRY" type="application/x-shockwave-flash" width="254" height="60"></embed>
<param value="Window" name="WMode">
<param value="0" name="Play">
<param value="-1" name="Loop">
<param value="High" name="Quality">
<param value="" name="SAlign">
<param value="-1" name="Menu">
<param value="" name="Base">
<param value="sameDomain" name="AllowScriptAccess">
<param value="ShowAll" name="Scale">
<param value="0" name="DeviceFont">
<param value="0" name="EmbedMovie">
<param value="FFFFFF" name="BGColor">
<param value="" name="SWRemote">
<param value="" name="MovieData">
<param value="1" name="SeamlessTabbing">
<param value="0" name="Profile">
<param value="" name="ProfileAddress">
<param value="0" name="ProfilePort">
<param value="all" name="AllowNetworking"></object>