Thanks for your quick replies everyone.

Editing the presets file has no connection at all. 
You did not post what version of ffmpeg you are using ..... please do.
ffmpeg
ffmpeg version 0.7.7, Copyright (c) 2000-2011 the FFmpeg developers
built on Nov 9 2011 15:21:07 with gcc 4.5.2
No worries Just18, just checking every option

I have version 0.7.7
-1 installed. (Says latest available version - Synaptic, Properties, ffmpeg)
I don't get the expression, 0.7.7 is latest version, without adding 0.7.7
-1Obsoletes ffmpeg (<0.7.7) That confuses me, actually fact that no one has said 0.7.7
-1 with the further version identifier "
-1" is confusing.
I have no 'history' log of it being installed in either Oct, or November.
However, If that's latest version, it's the latest version.
djohnston said:"We have made 2 new point releases (0.7.7 and 0.8.6) that fix around 90 bugs, several of which are security relevant. We recommend users, distributors and system integrators to upgrade ..."
Just trying to clear up if I have mysteriously installed latest version

Thankyou for your help guy's, confirmation I can lay this to rest would be great.