I don't think I get that error in Pp2010, I attempted to replicate the error. All i discovered was I have the ability to Place videos off of the internet directly into my slides without having to download anything. I wonder if this is true for 2007? If it is, and you got your video directly off of the internet, you might be able to bypass such an error. You copy the embedded code and paste it into your slide (either that, or using the add video feature). Such as this:
Are you able to do this? Otherwise, I am not sure there is a way to do what you want it to do, as I cannot test your program myself. Try seeing if the error happens with preloaded videos on your computer, or just different videos in general. Look through the settings, etc. for options that deal with this.
*EDIT* Yes, it is the creepy white dude from that
video. But I was more curious than is good for me and wanted to see the music video for a song I heard. This is what popped up on my screen about the same time I was testing Pp2010 videos. It was just there. Easily accessible. He doth protest too much.