Hi everyone,
If you want to start embedding Videos within your posts, use the "Movie" icon. However, you will need to select and then copy/use the "OLD" youtube embed code that begins with ...

<object width="560" height="315"><param name="movie" value="http://***********"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://***********" type="application/x-shockwave-flash" width="560" height="315" allowscriptaccess="always" allowfullscreen="true"></embed></object>