While everything the video was talking about is correct, this also only scratches the surface of what is going on (http://en.wikipedia.org/wiki/Redox). Science at school has to go into much more detail to prepare you for when you chose chemistry as your topic for University.
A comparable video that actually gives all that detail is very hard to do (if it's at all possible) and it's also likely to be very boring - unless you are into chemistry at which point you don't need a video like this in the first place because the books are perfectly fine for you (they were for me and I have nothing but interest into chemistry - no education aside of what you'd get in High-School).
This is a surprising and refreshingly entertaining video. I have always been curious as to what flames really were, but it has always been on my "Things to look up eventually list" that I never get around to. The song at the end was a nice touch too (though I'm not a fan of the M83-esque yelling in it).