I have installed the plugin and activated it. Working with WPWeaver theme. When placing Youtube-urls in a post, nohing happens, it just stays an url. Tried both wysiwyg and html editor, without succes.
@isisjade I had the same problem. Seems like there was a bug inside the youtu.be oEmbed part in the plugin. You have to disable regex on it (as it is in the wp core).
I wrote a more detailed instruction on my blog