Honestly, I don't think anyone takes Flair serious anymore. His flop has just become so cartoony now. It used to be he'd just fall out of the corner, now he stumbles forward, acts like he is ok, does a little "put em up" like the Cowardly Lion and then flop.
Orton should have been in a mini-feud with Batista, not Flair.
I am thinking he does that whole flop cartoony act because it gets a huge pop like every single time. It's like the Worm taking two minutes to set up, or the People's Elbow. Overly silly, but it still gets the pop. Maybe he's just seeing how far he can stretch it and still have people cheer it.