Video units feature to be discontinued:

http://adsense.blogspot.com/2009/03/sunsetting-video-units-feature.html

Google has discontinued its video unit feature. Google adsense video units feature allows you to show YouTube contents and videos as well as ads on your pages. According to Google adsense blog this didn’t work for them as they expected. This feature is ending end of April. Youtube can still be used by embedding videos on your site but you will not earn any adsense income from it. video ads may appear in your Adsense for content ad units if you’ve opted into image ads, and Adsense for video is still accepting applications from eligible publishers who produce video content.

We used to run video unit ads on few of our websites now we removed the code as per Google’s recommendation. Google adsense is no longer accepting sign up for video units.
Once video units are retired at the end of April, any remaining Leader board or Skyscraper video units on your pages will direct users to YouTube.com, while other video unit sizes will automatically be changed to standard embedded YouTube players. These standard video players will display top YouTube videos, but you won’t generate earnings from them once this change occurs. If you have less than three ad units on your page, you may prefer to replace your video unit with a regular ad unit.

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