Youtube's Video Stabilization Feature

I just recently discovered a feature on Youtube that stabilizes shaky videos.

Below is the unedited video which was taken while on a bumpy tricycle ride:

Here's the edited video where I also applied the "auto-fix" feature which improves the color.

I didn't expect the outcome to be as crisp as the original one. For most of us who only have ordinary digicams mounted on our shaky hands - this feature should come very handy. Here's an explanation of the technical details behind the stabilization.