Actually, the takingbackearth.com site does have "read more" links, but they appear as "Continue reading" and not "read more".
You only need to change bwa_excerpt to the_excerpt in the postformat.php subtemplate (from the Dashboard, click on Appearance > Montezuma Options > Subtemplates > postformat.php). This will affect all of the posts that show up on your home/blog page.
However, if you are interested in displaying your entire post instead of just an excerpt, then you can change bwa_excerpt() in postformat.php to the_content() instead. This will, as I said, display the entire post, including the video. You should delete the read more link at the post-footer section of the postformat.php subtemplate, though, since you will be displaying the entire post.