You can now embed a Youtube video in your blog.
Firstly create a new entry and then select ‘video’ in the text formatting video at the bottom of you entry page.
Secondly enclose the Youtube video id in the tags [yt]insert_YouTube_Id_here[/yt]
Note: the Youtube video id is the part of the Youtube url after the equals symbol. For example http://www.youtube.com/watch?v=this_is_the_Youtube_id