Deep Spirits

1. Leaving the "quotes" around the URL:

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[flash=480,385]"http://www.youtube-nocookie.com/v/IO_KX1g5DMs&hl=en_US&fs=1&rel=0"[/flash]

The above code would not work, only because the quotes are still there, so it should be like this instead:

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[flash=480,385]http://www.youtube-nocookie.com/v/IO_KX1g5DMs&hl=en_US&fs=1&rel=0[/flash]

2. Taking the web address (page link) of the video page, instead of the URL from the EMBED code.

The code that needs to be placed between the opening and closing Flash tags is not the link of the page that holds the video.
Instead, look underneath the video (on the YouTube page). You'll see an EMBED button. When you click it, the EMBED code appears. When you copy and paste that you'll get something like this:
Yes, it looks messy...

The only part that matters above is the bold part. The address that is between the quotes in value=" " is what you need (but excluding the quotes). That is the address of the video itself.
Simply place that between these opening and closing tags:

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[flash=480,385][/flash]

By the way, when I say "opening and closing tags", the first part of the code is the opening tag:

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[flash=480,385]

and this is the closing tag:

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[/flash]

Thank you!! It is very empathic and thoughtful.

Thank you VERY much, Sabina! After much trial and error (and several misplaced quote marks) I got the video embedded.