Video Inc wasn't working with videos from blip.tv - apparently blip changed their Flash Media player and the stub required an updated. I updated my stub and also made (an admittedly ugly hack) to allow it to show thumbnails from Blip.
I changed the relevant array portion of my stub.php (in lib) to the following. The actual file is too big to upload.
Hope this helps anyone who was having problems showing videos from Blip.tv.
'title' => 'Blip',
'website' => 'http://www.blip.tv',
'url-match' => 'http://blip\.tv/(play|file)/([0-9]*)',
'fetch-match' => '<link rel="video_src" href="([A-z:/\.0-9-_=]*)',
'embed-src' => '$2',
'embed-width' => '500',
'embed-height' => '315',
'fetch-match' => '<link rel="videothumbnail" href="([A-z:/\.0-9-_=]*)',
'image-src' => '$2',