An added value to the module would be able to configure the API version you want to use, this is just an extra GET parameter the URL of the video.

For example:

<object type="application/x-shockwave-flash" height="80" width="540" data="http://www.youtube.com/v/WrZnDJCi24s&amp;amp;rel=0&amp;amp;enablejsapi=1&amp;amp;playerapiid=ytplayer&amp;amp;fs=1&amp;version=1" id="media-youtube-default-external-object-1">
    <param name="movie" value="http://www.youtube.com/v/WrZnDJCi24s&amp;amp;rel=0&amp;amp;enablejsapi=1&amp;amp;playerapiid=ytplayer&amp;amp;fs=1&amp;version=1">
    <param name="allowScriptAccess" value="sameDomain">
    <param name="quality" value="best">
    <param name="allowFullScreen" value="true">
    <param name="bgcolor" value="#FFFFFF">
    <param name="scale" value="noScale">
    <param name="salign" value="TL">
    <param name="FlashVars" value="playerMode=embedded">
    <param name="wmode" value="transparent">
    <!-- Fallback content -->
      <a href="http://www.youtube.com/watch?v=WrZnDJCi24s"><img src="http://img.youtube.com/vi/WrZnDJCi24s/0.jpg" alt="See video" title="See video" width="540" height="25"></a>  </object>
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Example of different versions of player:

example

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Here's the path.

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