Embedding Youtube videos in presentations?

My wife tells me that this guy in her grad school class is playing youtube videos inside his Mac presentations (I’m assuming keynote, do they even have powerpoint for macs?) without switching out to a browser window or anything, just rendering the video right there.

Furthermore, he’s not downloading and converting and embedding the video, he’s just “dragging and dropping from youtube to the presentation”.

Assuming he was online at the time, is this even possible? Would keynote be able to lift the youtube flash player directly from the site and render it in-presentation?

I am definitely scratching my head over this one. My morning googling has turned up nothing more than 500 guides on ripping, converting, and embedding youtube video.

She is trying to build powerpoint presentations that do the same thing, and I’m completely at a loss to help her.

Aszurom suggests that keynote can just render the html <object> tag just like a browser would. Let’s say I’ve got something like this:

<object type="application/x-shockwave-flash" data="http://www.youtube.com/v/ZDZs__m5iAI" height="350" width="425"><param name="movie" value="http://www.youtube.com/v/ZDZs__m5iAI"><param name="wmode" value="transparent"></object>

And I want powerpoint to render it. Is that possible?

I think this “embedding flash videos in powerpoint” tutorial worked, but I can’t really test cause my work firewall blocks youtube.