gusmontemayor Hi
The video which you uploaded need to be converted with FFMPEG so kindly contact your web hosting provider regarding the availability of FFMPEG on your server. Most shared web hosting providers disable this option because it consumes a lot of memory and processing power.
If FFmpeg is not installed yet, pls ask them for help to install in server side, and ask the FFMPEG path, then put that FFMPEG path on JomSocial configuration >> Videos >> Video settings >> Path to FFMPEG (make sure it's absolute path)