The link really helps with "seeing" what the product can do. The video is a good start as well. I'd change it a bit, though. For a great example and a good laugh watch this video:
http://www.youtube.com/watch?v=nkuReA-AGa8
Within 30 seconds you know:
-Company/product name
-Elevator pitch (The easy way to fix, fill, and seal virtually anything fast, and make it last). Yours needs to be as short and succinct as this.
-What's not/what makes it awesome.
-Why competitors are bad, and why this product is good.
-How to use it.
The rest is all ways to use this cool new thing that you were just introduced. 90 seconds of continuously reinforcing the initial 30 seconds. Then the price: "only $x for all of this great value that you just watched for 2 minutes."
The video you have right now is ambiguous until the end. If you're trying to quickly explain your product to a site visitor, you have to get to the point ASAP.