Looks like you have to URL Decode the data, which then becomes this:
I'm guessing one of those URLs is the one for the FLV file.
Code:
account_playback_token=&url_encoded_fmt_stream_map=url=http://o-o.preferred.adnet-otp1.v21.lscache3.c.youtube.com/videoplayback?upn=mzgH_FEzrBo&sparams=cp,id,ip,ipbits,itag,ratebypass,source,upn,expire&fexp=906717,907217,907335,921602,919306,919316,912804,913542,919324,912706&ms=au&itag=43&ip=109.0.0.0&signature=222E68A2BE474B57B962F58DD79EEBA277F54EC2.6EA60B5CFFAE0CB3EA6CFC20B0208309AF088011&sver=3&mt=1339101612&ratebypass=yes&source=youtube&expire=1339124260&key=yt1&ipbits=8&cp=U0hSTlFNUl9LSkNOMl9JR1ZDOldSeXRYREViUmlV&id=5d9c68ec8ce74279&quality=medium&fallback_host=tc.v21.cache3.c.youtube.com&type=video/webm; codecs="vp8.0, vorbis"&itag=43,url=http://o-o.preferred.adnet-otp1.v20.lscache4.c.youtube.com/videoplayback?upn=mzgH_FEzrBo&sparams=algorithm,burst,cp,factor,id,ip,ipbits,itag,source,upn,expire&fexp=906717,907217,907335,921602,919306,919316,912804,913542,919324,912706&mt=1339101612&ms=au&algorithm=throttle-factor&itag=34&ip=109.0.0.0&burst=40&sver=3&signature=D82F0C03580A7BB14196C0FA3AC6499001C3EA01.25D4D46C05177B70C3D41D191DF49AC462C064E8&source=youtube&expire=1339124260&key=yt1&ipbits=8&factor=1.25&cp=U0hSTlFNUl9LSkNOMl9JR1ZDOldSeXRYREViUmlV&id=5d9c68ec8ce74279&quality=medium&fallback_host=tc.v20.cache4.c.youtube.com&type=video/x-flv&itag=34,url=http://o-o.preferred.adnet-otp1.v21.lscache6.c.youtube.com/videoplayback?upn=mzgH_FEzrBo&sparams=cp,id,ip,ipbits,itag,ratebypass,source,upn,expire&fexp=906717,907217,907335,921602,919306,919316,912804,913542,919324,912706&ms=au&itag=18&ip=109.0.0.0&signature=C1DBF533421028D7A5DFACD4C80CD09023E74140.A18FC247ED5332CD29CA975CD214A1C2D8246341&sver=3&mt=1339101612&ratebypass=yes&source=youtube&expire=1339124260&key=yt1&ipbits=8&cp=U0hSTlFNUl9LSkNOMl9JR1ZDOldSeXRYREViUmlV&id=5d9c68ec8ce74279&quality=medium&fallback_host=tc.v21.cache6.c.youtube.com&type=video/mp4; codecs="avc1.42001E, mp4a.40.2"&itag=18,url=http://o-o.preferred.adnet-otp1.v14.lscache3.c.youtube.com/videoplayback?upn=mzgH_FEzrBo&sparams=algorithm,burst,cp,factor,id,ip,ipbits,itag,source,upn,expire&fexp=906717,907217,907335,921602,919306,919316,912804,913542,919324,912706&mt=1339101612&ms=au&algorithm=throttle-factor&itag=5&ip=109.0.0.0&burst=40&sver=3&signature=5A00AD7538B7372F989ACD32B21E36171D3CD206.B475AD3BCF0D29F4F848662151E4CC53DCC2F53A&source=youtube&expire=1339124260&key=yt1&ipbits=8&factor=1.25&cp=U0hSTlFNUl9LSkNOMl9JR1ZDOldSeXRYREViUmlV&id=5d9c68ec8ce74279&quality=small&fallback_host=tc.v14.cache3.c.youtube.com&type=video/x-flv&itag=5,url=http://o-o.preferred.adnet-otp1.v21.lscache2.c.youtube.com/videoplayback?upn=mzgH_FEzrBo&sparams=algorithm,burst,cp,factor,id,ip,ipbits,itag,source,upn,expire&fexp=906717,907217,907335,921602,919306,919316,912804,913542,919324,912706&mt=1339101612&ms=au&algorithm=throttle-factor&itag=36&ip=109.0.0.0&burst=40&sver=3&signature=B643C94ED8C53D6BA68255935FE7B3A1C72EF286.058BF70DB83B8CF08B8508F904E63AD828BC1616&source=youtube&expire=1339124260&key=yt1&ipbits=8&factor=1.25&cp=U0hSTlFNUl9LSkNOMl9JR1ZDOldSeXRYREViUmlV&id=5d9c68ec8ce74279&quality=small&fallback_host=tc.v21.cache2.c.youtube.com&type=video/3gpp&itag=36&allow_embed=1&vq=auto&fexp=906717,907217,907335,921602,919306,919316,912804,913542,919324,912706&allow_ratings=1&keywords=Skydiving,helicopter,extreme,diving&track_embed=1&view_count=1680836&video_verticals=[554, 20, 999]&fmt_list=43/320x240/99/0/0,34/320x240/9/0/115,18/320x240/9/0/115,5/320x240/7/0/0,36/320x240/99/0/0&author=pianojosh&muted=0&length_seconds=78&has_cc=False&tmi=1&ftoken=&status=ok&tabsb=1&watermark=,https://s.ytimg.com/yt/img/watermark/youtube_watermark-vflHX6b6E.png,https://s.ytimg.com/yt/img/watermark/youtube_hd_watermark-vflAzLcD6.png×tamp=1339101730&storyboard_spec=https://i1.ytimg.com/sb/XZxo7IznQnk/storyboard3_L$L/$N.jpg|48#27#100#10#10#0#default#4-FNWJkuFJPZF6gahJCVzCYyIog|60#45#80#10#10#1000#M$M#ZMf70gtkmhuVtJogO79EIjCL3FY|120#90#80#5#5#1000#M$M#Rv1CKiKw5m9DolrTk0mn5DxCj7s&plid=AATB5-rwUwK8YGBl&endscreen_module=https://s.ytimg.com/yt/swfbin/endscreen-vflwh2zaW.swf&hl=en_US&no_get_video_log=1&avg_rating=4.94446139762&video_id=XZxo7IznQnk&sendtmp=1&token=vjVQa1PpcFMdLaCRfCMI6gAZVNXTRYd2S0nxEOudCQE=&thumbnail_url=https://i1.ytimg.com/vi/XZxo7IznQnk/default.jpg&title=Extreme Skydiving
I'm guessing one of those URLs is the one for the FLV file.