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If the video is hosted somewhere (youtube, vimeo, etc) then yes. You can simply use the <embed> code snippet provided from the system. Also, if you have the jive video module, you can also embed the video in the html widget. If the video isn't hosted anywhere and you don't have the jive video module, then there is no way to upload / transcode / stream the video with the HTML widget.
Thanks for the reply. Well, I have uploaded the video in my space and now I need it to be embeded in my HTML widget. I did not get any way to do this. One more thing When I was not able to that i thought to Write a blog (where I wrote it in HTML format and through styling I gave it the look and feel of my design) and to feature it then. But I did not find any link to feature my blog so that I could have possibly placed a Featured content widget on my space to get this blog appeared. Can we not feature the blog?
I hope you get to understand it and it makes sense....
By the way many thanks for your help. It is greatly appretiated.