Heres what I have Jack, it seems to work for me. I don't know if you have this fixed or not.

Code:
[youtube]http://{SIMPLETEXT2}.youtube.com/watch?v={SIMPLETEXT}[/youtube]
Code:
<object width="425" height="350"><param name="movie" value="http://{SIMPLETEXT2}.youtube.com/v/{SIMPLETEXT}"></param><param name="wmode" value="transparent"></param><embed src="http://{SIMPLETEXT2}.youtube.com/v/{SIMPLETEXT}" type="application/x-shockwave-flash" wmode="transparent" width="425" height="350"></embed></object>