Clicking the link will take you to what seems like a Facebook application which then tells you that your video player is out of date – and encourages you to download a file.
If you do, then the same "video" plus link gets posted using your avatar to al your friends on Facebook -– meaning it is spreading virally.
It's not clear at present whether Facebook has acted to halt it. You should, however, expect that it will mutate in the coming hours/days (depending on how determined the virus writer is), so it might not be exactly that message or video frame. The key element in the attack is that it tells you to download a file.
The file seems to install a piece of adware called Hotbar, which thus generates revenue for the Malware writer. (About Hotbar: "displays a dynamic toolbar and targeted pop-up ads based on its monitoring of Web-browsing activity. The toolbar appears in Internet Explorer and Windows Explorer. The toolbar contains buttons that can change depending on the current Web page and keywords on the page. Clicking a button on the toolbar may open an advertiser Web site or paid search site. Hotbar also installs graphical skins for Internet Explorer, Outlook, and Outlook Express. Hotbar may collect user-related information and may silently download and run updates or other code from its servers.")

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