I didn't solve my problems, but was able to play a few videos after the uninstall of the updates. Glad to hear it cleared you, now Im really puzzled..
Just checking back to see if your problem is resolved. If not, one thing you may want to look into is whether or not you have your phone set to automatically download updates. If so then you may be just downloading the same updates over and over and recreating the problem each time. I reverted back to the original you tube app and now refuse to allow any updates...and it's still working.