If you took quantum physics you should already know that there isn't anything solid in reality anyway. it all boils down to probabilities of observing something. At quantum level the existence itself is waving.
But "mainstream" science still doesn't know what causes the alleged collapse of the wave-function, because they still don't understand what the consciousness is.
The explanation given in the presentation doesn't need to deal with the collapse of the wave-function because there isn't any. It only assumes that conscious observer has its own frequency pattern and can form ensembles with other frequency patterns via constructive and destructive interference. It unifies the conscious observer with everything else in the system making an implicit assumption that everything else is also made of consciousness (this wasn't mentioned in the video, just an extrapolation on my part).
There is a saying - you will not perceive what you're not a vibration of - that sum's it up nicely.
http://www.youtube.com/watch?v=UMqtiFX_IQQThis video is about the famous double slit experiment,that supports your point,its pure acceptable science
Nobody have been able to find how and why the presence of an observer affects a physical phenomenon. Many spiritual things can be derived from this like "Reality exists due to observer".
Some Relevant history from Wiki
Another thing worth mentioning here, about collapse of wave-function of a particle, to a single point, on being observed.This problem can be best illustrated by the famous
cat experiment of Schrodinger. It was interpreted by
Everett by
many worlds theory in 1957.
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