To fix video player showing blank on IE (vshare 2.1), replace content of your include/player.inc with

http://www.buyscripts.in/vshare/player.inc

OR

http://www.buyscripts.in/vshare/player.zip

OR

Code:
<?php

$vshare_player = <<<EOT

<object type="application/x-shockwave-flash" height="350" width="425" data="{$config["baseurl"]}/player/player.swf">
<param name="movie" value="{$config["baseurl"]}/player/player.swf" />
<param name="flashvars" value="&file={$config["baseurl"]}/flvideo/$vid.flv&height=350&image={$config["baseurl"]}/thumb/$vid.jpg&width=425&location={$config["baseurl"]}/player/player.swf&logo={$config["baseurl"]}/templates/images/watermark.gif&link={$config["watermark_url"]}&linktarget=_blank" />
</object>

EOT;

?>