To make it easier, all you need to do is download Adobe Flash Player 10.1.106.16 from market and replace the /data/data/com.adobe.flashplayer/lib/libflashplayer.so which is AND 10,1,106,16 hex edited to look like WIN 10,2,152,26 for HULU.
1) Extract libflashplayer.so to sdcard
2) Copy libflashplayer.so from sdcard to /data/data/com.adobe.flashplayer/lib using root explorer and make sure the permissions for libflashplayer.so is rwxr-xr-x or chmod 755 the file.
To get this working, make sure to set your browser User Agent string. With the stock Android browser and probably other browsers excluding the Dolphin browser, you might have to do this each time you run any flash based site including hulu.com or start the browser:
Others are strongly encouraged to make a .apk installer file to share with others as a contribution to the Android community. Unfortunately, I have no way to make the .apk file as I have tried existing .apk's and all they did was made it seem like Adobe Flash was not even installed on all sites including hulu.com.