The idea of creating hyperlinks in videos has been around for long time. Many people tried to create such links using either annotations or content analysis. It did not become mainstream so far. AUtomatic techniques were not ready for prime time and manual environments were workable only for very specific applications.
The goal of these techniques is to provide ‘entry points’ in video so people could get to the point of interest. Many researchers in video search had a similar goal. In fact, there is a lot of research going on in this area.
Google recently acquired a company — www.omnisio.com — to enhance YouTube. Omnisio provided environment for annotating videos to provide such entry points in video. It appears to have a simple but usable technology. Will be interesting to see how it gets used.