Looks great.
Will it also work with a local file, ie, if I create an offline site on a CD, will an FLV or MP4 placed in the root folder of the CD work or does it have to be a YouTube file and you need to be connected?
@ amrajadhyaksha the extension/script is written for displaying YouTube urls. I have only tested with this and nothing else. Please feel free to try it with flv files using the path to its location on the server rather than s path to YouTube and see if it works. I may be releasing a similar extension that use flvs over YouTube just need to get the time to do so not promising but watch this space.
