Well, I don't know what it is, but something is wrong in your page then. I just tested both cases, i.e.
<table><tr><td><div id="megazine"></div></td></tr></table>
and
<table><tr><td id="megazine"></td></tr></table>
Both worked fine. Are you sure you're not missing the SWFObject JavaScript or something? I.e. the
<script type="text/javascript" src="js/swfobject.js"></script>