I think you are missing quite a bit of code. You have the old embed tags, but I don't see the activex object id, etc.
I don't actually know how, but you're doing exactly what I have on my site, the code of which I swiped from an apple page.
Mine works, so just grab the code from one of my pages...
http://www.bretwilliams.com/motiongraphics/demo.html