I didn't like that video too much. I think Web 2.0 means interactive websites which behave as you would expect your GUI graphical programs to react. The webpage knows where your mouse is, etc. This is opposed to simply clicking on text links. So you can draw and do stuff online.
"Broadly speaking, Web 2.0 represents the movement away from individual websites and web pages, and a progressive movement towards a unified web community, where information is gathered from a myriad of sources and presented to the end user in a singular manner. This also means that the internet will become an even bigger part of everyday life. Ultimately though, you will probably not notice the effect and change that has and will be brought about by Web 2.0, and this is perhaps the reason for its undoubted success so far and in the future. "
(..)
"Whilst interactivity may seem like a rather simple and perhaps obvious step for the internet, in actual fact, what is taking place, is a complex psychological and scientific process. Technically speaking, the user is encouraged to shift the way they intake and process information from the rear hemisphere of the brain (responsible for absorption of information) to the frontal lobes, where cognitive planning and critical thought take place. This is a much more effective learning technique that is commonly encouraged. By facilitating interaction, the changing nature of the internet allows for more effective learning and browsing experiences without the user necessarily realizing it."
source http://adaid.com.au/changing-nature-of-web-2.0-interactive-blog.aspx