It plays video just fine. The only thing I don't like is that it requires a lot of work outside of WordPress.
No knock to the creator of this. Like I said, it does what it says: plays video. But, the whole idea of WordPress is to make it easy to manage content. In order to use this plugin, you have to convert your video to .mp4, .ogv and .webm first. Then upload them via FTP or the Media Manager in WP. Then you have to copy and paste the URL's correctly into the page editor. This isn't rocket science, but it isn't exactly user friendly for non-tech people.
Like I said, it plays them fine. But an idea solution would be one where the user uploads whatever video they have and all the converting gets done on the back-end without them having to do anything. But, for a free plugin, I can't complain.