Without it, any user could bog down your server with hours of video being encoded, or potentially worse, offend hundreds of your community's users with pornography or worse. This elegant solution prevents that by allowing the admin to moderate and pre-approve content before it gets posted. I echo the previous reviewer when I say it really should be included in Jomsocial's next release.
And if you hit a snag, like I did trying to make it work with Jomsocial's remote hosting of video on Amazon S3, using Zencoder for encoding, (which it does, btw), the developer will likely display dedication to helping you above and beyond the call of duty. (At least he did for me.) Thanks for all your help in getting this to work, and making my Jomsocial video site possible. Without this extension and your terrific support, it would not have been.
Thanks for your review.