I have never seen or heard about it, but it looks very well programmed (from user-end side). As far as hosting solution, it seems like it doesn't require anything special:

PHP version: 4 or 5.
MySQL database version: 4 or 5.
Assign write and execution permissions if necessary.
Modify upload and post limits, enable some necessary PHP functions (if required).

These are very common to any hosting provider. The key things, perhaps, come to connectivity speed and bandwidth. Make sure your client has at least enough bandwidth to serve all those videos he wants in high quality. Also, make sure the connectivity is fast enough to load the videos. Nothing is more annoying than having to wait for a video to download... even on product website a 7-9 second video was interrupted because it didn't download in time.