edit: just sneaking a few minutes on HN while she watches Nihongo Quick Lesson on NHK (via Roku). Only a few shows actually really engage her, but this is one of them... She shouts and dances with the Mime guy for example.
I think as with most things, the key is moderation, and a couple of hours of TV seems unlikely to do substantive harm in the context of a day that involves lots of play in the nursery, lots of reading with daddy and mummy, running about in the yard for an hour etc.
No one is really sure why this is the case, but it is very well proven. (It's called the video deficit, even when you're just talking about audio.)
If this weren't the case then you would be able to teach your kids the phonemes of other languages just by playing audio tapes of native speakers for them, but unfortunately this doesn't work so if you actually want your kids to be bilingual then you need to sign them up for an exchange for age one.