Deff,
да такой вариант прокатывает, если добавить
wmode="opaque"
<div style="width: 200px; height: 315px; overflow: hidden;">
<object width="560" height="315" style="float:left; overflow: hidden;">
<param name="movie" value="http://www.youtube.com/v/AMoLwrarElA&hl=ru_RU&fs=1&rel=0&border=0"/>
<param name="allowFullScreen" value="true"/>
<param name="allowscriptaccess" value="always"/>
<param name="wmode" value="opaque"/>
<embed src="http://www.youtube.com/v/AMoLwrarElA&hl=ru_RU&fs=1&rel=0&border=0" wmode="opaque" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="315"/>
</object>
</div>