There's still the JavaScript method I suggested earlier. I have a product (which I haven't published) that does something like what you want. I could make some changes and get it to work if you could do the debugging. The only drawback is that a member could use a developer tool like FireBug to see the video, but most people wouldn't even think to check out how it works and I suspect even many of the people who play with coding here don't know how to use a developer tool.
I have a very complicated bb code in the works and I would like to look into how to use a template for it. If I ever figure it out I'll PM you .
EDIT: I think I can remove the video for non-premium members to prevent them from viewing it.