What I like :
Feels like pinterest for videos
What I dislike:
1. For adding a video, I had to
2. Fetch the url by visiting youtube.
3. Add a title
4. Had to enter start time and end time
You are asking a lot from the user ;)
What I would recommend:
1. Get the user interests.
2. Show videos related to their interests.
3. Let them play the videos and select their ‘cuts’.
4. Create jump cut add-ons for browsers.