You can embed an FLV and fairly easily control it using ActionScript. This example shows how, when your mouse is on the right side of the stage, the video plays forward, and when it’s on the left side, it plays backwards. Giving you a 3D look that’s interactive. Fun!
View Example: http://www.designupdate.com/interactiveVideo.html
Download Source: http://www.designupdate.com/interactiveVideo.zip