Well I just spent the last hour and 20 minutes figuring this out. Photobucket sure doesn't make it very easy to embed videos in forums...
I figured out how to do it but it's not as easy for the user as I would like. The problem is that photobucket doesn't use unique "ids" for their videos. Videos are stored in users albums and the links to the videos are all very different.
YouTube, Vimeo, and most other video sharing sites use unique ids for videos. For example.. to embed YouTube videos, they make it easy... you click 'share' and get a code like k9CohtGnFGI then you just use [noparse]
to embed the video in your post
Vimeo videos are very similar
[/noparse]
To make the photobucket videos work, you would have to pull this:
http%3A%2F%2Fvidmg.photobucket.com%2Falbums%2Fv288%2FBlacksmithbilly%2F07%2520Xs650%2520I-Beam%2520Springer%2FMOV04060.mp4
Out of this (found by copying the HTML code they give you):
<a href="http://media.photobucket.com/video/xs650/Blacksmithbilly/07%20Xs650%20I-Beam%20Springer/MOV04060.mp4?o=18" target="_blank"><embed width="600" height="361" type="application/x-shockwave-flash" allowFullscreen="true" allowNetworking="all" wmode="transparent" src="http://static.photobucket.com/player.swf" flashvars="file=http%3A%2F%2Fvidmg.photobucket.com%2Falbums%2Fv288%2FBlacksmithbilly%2F07%2520Xs650%2520I-Beam%2520Springer%2FMOV04060.mp4"></a>[noparse]
To make this: [photobucket]http%3A%2F%2Fvidmg.photobucket.com%2Falbums%2Fv288%2FBlacksmithbilly%2F07%2520Xs650%2520I-Beam%2520Springer%2FMOV04060.mp4[/photobucket][/noparse]
I haven't implemented it yet but I can if you're still interested.
Vimeo is just another video sharing site like YouTube.