Some day a UFO video will be filmed with something better than a calculator.
As long as the "I don't care how it works, just as long as it does" brigade outnumber the rest of us, these kinds of things will always happen.
As for the subject matter itself, the footage has been cut, thus compromised.
The initial footage is of a classic meteor shower, gas trapped inside the meteor explodes and propels micrometeors forwards.
The next footage after the crossfade appears to be the bow-wave of the meteor heavily accentuated by the digital zoom (1 pixel captured at the CCD is now represented as 4 by the time it hits the recording media)as it travels through the atmosphere at great speed.
The footage after that shows the material to be very highly magnetic or even to have a very dense gravitional pull, you see the same kind of actions in the plethora of freeware orbit simulators you can get for the PC.
Due to the fact the footage has been compromised, we cannot guarantee authenticity of this section, the wild orbiting doesn't appear in the second footage.
The footage from above just demonstrates the meteor being destroyed.
I want to believe, I really do, but aliens would hardly announce themselves by having superdense turdlets in our atmosphere over Mexico.