Youtube Embed not working

Just recently I tried to add a video using the embed feature in a 7.1.5 site. I now get a device support error. I have looked this up and there was some mentioning that youtube was changing coding format or something like that and that older youtube codes would not work. I have tried on the demo site and get the same thing.

http://www.boonex.com/forums/topic/Videos-and-API2-shutdown-of-youtube.htm

The embed itself still works, but the title and description need to be manually entered. A ticket has been made, and we're all waiting on a fix.