NDS dev icedaddy just released version 3 of the Video Library tool for your NDS called "viDSnips".  Review the note below from icedaddy before installing.

"viDSnips 3 has had all dependencies on PALib removed and now is purely a libNDS based library that can be used for any DS homebrew project. (For PALib based projects see viDSnips 2 for PALib.)

Improvements include:
- no external dependencies so will build with the latest updates of devKitPro & libNDS
- better frame rates with far fewer dropped frames

However, with the loss of the PALib MP3 support, there are audio issues:
- audio quality is reduced for comparable .vDS file sizes (as compared to version 2)
- audio is no longer streamed so audio size is a serious consideration
- audio reproduction on emulators is much poorer than the real device

Improving the audio for viDSnips 3 is an area of further development.

Note also that version 2 .vDS files will not work with viDSnips 3."

Source:  http://dsgamemaker.com/dsgmforum/viewtopic.php?f=14&t=2395

Official Site:  http://www.icedaddy.net/projects/nds/vidsnips-3-libnds