Can't Get Youtube Embed in 3.7

[theothersully]

Is there any known issue with using BB Code to get YouTube videos to embed in 3.7?

I ask because I used the following example: vbulletin.com example

I simply pasted everything into the appropriate areas and created a new BB Code. I also have a small YouTube Icon I used for the code which looks very nice.

However, when I use this code, putting a valid video between the brackets on composing a reply, I end up with literally nothing in the post once I submit it.

If I go and use the embed HTML from YouTube itself instead of using my custom BB code, I see all the code in my post and the object doesn't embed at all.

Like this:

<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>

(where param is replaced by a real YouTube jXXV323oQ type video title)

Why is my installation not accepting embedded objects of this type? Embedded photos are working...

Any help? Is there a setting to enable this?