No. Users must click an icon to insert things. But don't discount their intelligence. AME was cute, but it encouraged laziness. Besides, not everyone wants to embed the video.
So, what is the purpose of the "insert video" tag? I just tried to use it and all it did was place a hyperlink there to the YouTube video instead of displaying the video. Seems redundant to the "insert hyperlink" button. What is the best way to go about embedding videos with the current suite?
--edit--
I believe the video tag is supposed to convert the YouTube videos to the actual player, but for some reason that is not working on my site. Any idea why it would only display the url instead of the video?
Ahhh... you got me looking at the link further and I realized that the YouTube "share" link has a typo in it. It seems to be a problem on the Youtube site itself. I corrected the typo and now it works. I thought I was losing my mind! Lol!