Let me give credit to dgarden, who added the appropriate reg keys to disable Adobe Reader.

The script that we use disables the Automatic updates for Adobe Reader 8, 9, and 10.  You can add additional keys to your script for other Adobe Reader versions like 5, 6, or 7.  See example below:

EX: [HKEY_LOCAL_MACHINE\SOFTWARE\Policies\Adobe\Acrobat Reader\7.0\FeatureLockDown]

Here is the script that I am currently running:

Windows Registry Editor Version 5.00
[HKEY_LOCAL_MACHINE\SOFTWARE\Wow6432Node\Microsoft\Windows\CurrentVersion\Run]
"Adobe Reader Speed Launcher"=-
[HKEY_LOCAL_MACHINE\SOFTWARE\Wow6432Node\Microsoft\Windows\CurrentVersion\Run]
"Adobe ARM"=-
[HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Run]
"Adobe Reader Speed Launcher"=-
[HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Run]
"Adobe ARM"=-
[HKEY_LOCAL_MACHINE\SOFTWARE\Policies\Adobe\Acrobat Reader\8.0\FeatureLockDown]
"bUpdater"=dword:00000000
[HKEY_LOCAL_MACHINE\SOFTWARE\Policies\Adobe\Acrobat Reader\9.0\FeatureLockDown]
"bUpdater"=dword:00000000
[HKEY_LOCAL_MACHINE\SOFTWARE\Policies\Adobe\Acrobat Reader\10.0\FeatureLockDown]
"bUpdater"=dword:00000000

Go to the Configuration Policy of your Kbox, and select Enforce Registry Settings.  Copy and Paste the above text into your Registry file window.  Give the policy name a name, like "Disable Adobe Updates" - (TEST).  Click save.

Go back into your scripts and begin TESTING!  I had machines running Adobe Reader versions 8, 9 and 10 and after running the script, all the aforementioned versions had their Adobe "check updates" removed.  A silent removal and noone was the wiser!