Overlay.tv, a service that lets users add links, images, and even other videos on top of Web video has a new API for developers to build applications on top of its technology. The company has also put out a new labs page where developers can promote their applications and see what others have built.
One of the early stars of the bunch is a special YouTube uploader built using Adobe AIR. It lets you upload videos from your desktop without having to use YouTube's Web-based uploader. Once a file is up and hosted on YouTube you can then create and design overlays right inside of the application, which compared to YouTube's annotation system is a little more advanced. Full story...