Hmm. Something definitely seems screwy with that video. It's not embedding for me either. I tried a few other videos and they worked fine.
Is that your channel? In either case, it could be that embedding permissions are disabled.
As I said before, the link in your original post does work. It just takes me to the actual YouTube site instead of playing on here. My guess is the embedding permission has been disabled, meaning that the video can't play on another site. Only it's link can be shared.