You need to change that into a bb code for it to work in your forums post.
Would a bbcode for a you tube setup be any good for you or is it just an audio player you want??? there seems to be an awful lot of code for just an audio player.
if you want just a basic bbcode for youtube files then just copy this in your BB Code Manager
Code:
<object type="application/x-shockwave-flash" data="http://www.youtube.com/v/dMH0bHeiRNg" width="425" height="344"><param name="movie" value="http://www.youtube.com/v/dMH0bHeiRNg" />BORKED</object>