No, As long as you don't write to that area if the card. There are free programs out there as well as hundreds of paid programs. The free one I am thinking of slips my mind right now. I will keep looking and post it when I find it.
NOTE: If this video is important to you stop using your Droid now. Installing apps taking pics or videos or even browsing the web can overwrite where the video was.
for the future, you can create a private album on picasa and upload all of your images to that album. so if your phone goes away you still have your photos. videos don't upload for me though.