Embedding flash/movie in content area
There are a number of ways developers can embed flash movies without getting into trouble with accessibility (alternative content if users don't have flash player) or legal issue (link).
Some of us have found Geoff Stearns's SWFObject script to be extremely easy to use and solve all the problems mentioned above. For more info, you can visit the project page. It provides additional info on how to use the script to trigger wmode for flash movie with transparency, embedding two flash movies and etc.
If you are wishing to embed a video file (mp4) you can use the HTML5 code with the 3.1 version of the templates. Also, UNL has a media aggregation site, MediaHub, that handles various aspects of managing and embedding digital media (audio/video).
Embedding Video using the UNL Video Player
Please see the current embed example at http://wdn.unl.edu/wdn/templates_3.1/examples/#videoplayer.html