This seems to be related to youtube and not just this plugin. I don't use this plugin, but I have the same issue. What is weird is how the coding has changed, even from youtube itself. This is how a youtube embed used to look a few weeks ago:
<iframe src="http://www.youtube.com/embed/Y0mo8Rmu6AI?rel=0" height="315" width="420" allowfullscreen="" frameborder="0"></iframe>
And this is how one looks currently.
<object width="420" height="315" classid="clsid:d27cdb6e-ae6d-11cf-96b8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=6,0,40,0"><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="//www.youtube.com/v/0inzO5y6Sck?hl=en_US&version=3&rel=0" /><param name="allowfullscreen" value="true" /><embed width="420" height="315" type="application/x-shockwave-flash" src="//www.youtube.com/v/0inzO5y6Sck?hl=en_US&version=3&rel=0" allowFullScreen="true" allowscriptaccess="always" allowfullscreen="true" /></object>
I don't know what they did,and why they added all the extra code, but I have the same issue, and if I use a short code it won't play at all. Weird, and annoying.