you may notice the "youtube" button above the posting text box. intended usage is as follows:
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[youtube]<youtu.be url>[/youtube]
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[youtube]http://youtu.be/dNk-Tu1xNsU[/youtube]
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[youtube]http://www.youtube.com/watch?v=n18-0DCMuOQ&feature=g-vrec&context=G257b393RVAAAAAAAAAA[/youtube]