Last summer’s heated public brouhaha between Apple and Adobe has been more of a low simmer during summer 2011.

The initial calamity of not being able to play Flash on the iPad (and not being able to do this even faster on the iPad2) has subsided. This is probably due to a number of factors, such as the rising legitimacy of Html5, tools like Google’s Swiffy that enable Flash to Html5 conversion, the increasing willingness of content owners to offer iPad friendly sites, and in my opinion the fact that the iPad is so cool that consumers were willing to overlook this defect pending the rollout of Html5 versions of major sites.

Still, Peter Judge provides some interesting testimony in eWeekEurope about why Flash still has legs, notably for reasons of lack of seasoning when it comes to security.

At our portfolio company BoosterMedia, we’re fairly agnostic in the debate. The company’s primary thrust in social mobile games centers on the Html5 standard, but currently the bulk of its portfolio of mobile social games are developed in Flash. Html5 has come a long way in the past year, and it is only recently that the technology is sufficiently sophisticated to enable a social game. In fact, to my knowledge, BoosterMedia is the first company to offer a browser-based social game on mobile based on Html5 (see http://jewelclubgame.com).

So, Five alive, but Adobe’s no flash in the pan.