[nerofix]

I'd have 2 solutions.

The first is not recommend do to higher security risk, but is your choice:

1.) Check your CES Parser Settings again and in the field "Banned HTML tags" remove the word "embed". Then save.

The problem here is that your users can now embed youtube videos, but also they can embed every other flash-applications which can be a security risk.

The second solution I use, ..

2.) Add new BB-Code:

Go Admin CP -> Custom BB Codes -> Add New BB Code

Title - YouTube
Tag - youtube
Replacement:

<object width="425" height="350"><param name="movie" value="http://www.youtube.com/v/{param}"></param><embed src="http://www.youtube.com/v/{param}" type="application/x-shockwave-flash" width="425" height="350"></embed></object>

Example - [youtube]zvC8GpOL4Lk[/youtube]

Description - Use the movie code from the YouTube URL in your browser.
For example, http://www.youtube.com/watch?v=zvC8GpOL4Lk


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Now after adding the new BB-Code, just enter [youtube]zvC8GpOL4Lk[/youtube] in your profile field and it should work.