brent As far as I know Fedora is pretty much the only distro to ship Firefox with hardware acceleration enabled out of the box, so I guess it's something related to it. No artifacting and CPU/GPU usage is not maxed when the playback starts to choke. It's only the image, not sound.
As to why YouTube works, I don't know. Maybe I haven't been attentive enough to notice the stutter there. I think I read YouTube uses multiple codecs, so maybe some codecs are still software accelerated.