In flvmediaplayer_nodeapi():

        if ($node->flvmediaplayer_config = flvmediaplayer_node_configuration_values($node)) {

So off we go to fetch the configuration. If we don't get any, then we do nothing.

But:

function flvmediaplayer_node_configuration_values($node = null, $profile_name = null, $params = array()) {

This whole function is built around having a profile. Which we didn't pass in. So if we have no node overrides, we get to:

  if (! $config && $profile_name) {
    // make sure that we have a profile name that was requested
    if (! $config = flvmediaplayer_profile_get_config($profile_name)) {

What profile name that was requested? There wasn't one!

And hence we return nothing and the module does nothing on nodes.