is valid?      

Text formatted with Texy:

Generated HTML code:

<object width="425" height="350">
<param name="movie" value="http://www.youtube.com/v/owK5tHjL0aE">
<param name="wmode" value="transparent">
<embed src="http://www.youtube.com/v/owK5tHjL0aE"
type="application/x-shockwave-flash" width="425" height="350"></object>

Verze Texy: 3.2.1 (konfigurace)