"I'm so embarrassed" means that you yourself feel embarrassed. "I'm so embarrassing" means that you are making other people feel embarrassed.

They are both correct adjectives,but have different meanings as stated by fdmaxey. In English,there are some adjectives that could either end in 'ed' or 'ing' and that will change their meaning from being the subject of the action (ing) to being the object of the action (ed) as in being embarrassing ('I' being the subject) and being embarrassed (by something or someone else,the object of embarrassement ,that is to say). Another example: I am tired ( The person is tired ,because of something else, that is tiring him/her. I am tiring ( The person causing others to be tired,he/she is the subject of the action of making someone else tired.)

Think of the noun form (embarrassment), then think about whether you receive it, or cause it for someone else. "I'm so embarrassed" means you receive the effect of the embarrassment. This is how you feel. "I'm so embarrassing" means you cause embarrassment for others... so they feel embarrassed. Same for boredom (bored/boring), interest (interested/interesting), and so on. :)

I am so embraced.