The board can't be tested the way you are doing it in the video. You need to power the IR LED from the appropriate header since each one is pulsed and timed to correspond to the matching receiver. By doing it the way you are (powering the LED continuously) you are flooding the input channel which is duplexed, which is why two red LEDs are lighting up at a time.
Also, by not having the IR LED plugged into the appropriate connector, the board thinks that there aren't any attached or that there is a short in the wiring harness (the reason for the two rapidly blinking red LEDs). When this occurs, the board goes into a special fail-safe routine designed to test each of the IR LED lines and prevent damage to the on board transistors.
In short, it may be harder for you to test the board outside of the game without a special testing rig.
Also, I would be guessing that you don't have a manual for the board, which would give you a lot of information on what the board is doing and why. If you would like a copy, just send me a PM or email at: [email protected]