Google Docs rolled out a new feature which lets you upload and watch videos in Google Docs video player. Remember this is different from YouTube. but used the same technology in background. Now as we know Google Docs supports version i.e. anytime you want to see how your documents looked like since last update, the same is not available for the videos which you upload however you can download them to your local desktop and view it.
Now if you want to view the previous version of the video you will need to remove the current version and then wait for the older version to be processed and then you can view. This is a cumbersome process but still you have an option. You also can download any version of the video.
This is from the help page :
On the page that opens, you can also find additional information about the file, including the owner, whether the file is shared or not, and when the file was uploaded. You can also download previous versions of the file, but you can’t view these versions in the player. If you’d like to play one of the older versions, you need to delete the more recent versions and wait for it to be processed.
I tested with a sample video to check the version thing it works as said but seems it takes time for the older version to be displayed which means if you see the video you can still see the deleted version of the video instead of the old one. So best is you need to give it a bit if time depending on how big your video is.