I'm very open with my kids about sex and reproduction, and the video wouldn't bother me a bit.
However, I don't know how useful it is. I'm all about the evidence--does it work? Does it cause harm? Will it backfire?
In general, scare tactics don't work with teens, and in some cases actually increase the targeted behavior, not decrease it.
I've seen a number of examples of interventions that actually backfired. It really irks me when schools adopt an approach like this without looking at the consequences.
But if it works, I'm all for it. :)