What I wonder is this:
What is the best way to share a few moments of a VIDEO (preferably a Youtube Video) onto a live HoA broadcast?

Hangouts and Hangouts on Air both have the Youtube App, but it does not broadcast onto the Youtube Video of the Broadcast. Recently I discovered that I can right click on a Youtube Video and choose “Pop Out.”

The video opens into a pop-up type window. I can even open another one–which pops into the same window–and use the back/forward command to go between the videos inside the same pop up.
Then a third video can be in a pop out video made from another browser window and so on. So I can line up many videos ahead of time for a HoA Broadcast session.

The Sound from the Video comes through my speakers and into my mic, so it is only half as good as I would like, but it works.

When it comes time to share, I simply use the screen-share app within hangouts and select the correct pop-up-window!

Here is a HoA movie I made showing this in action….

 

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Below is some basic info on getting started with Hangouts.

This blog does tell how to get started with Hangouts on Air (HoA) using G+ (google plus) and Youtube.

http://www.socialmediaexaminer.com/google-hangouts-on-air-guide/

Also, here is another blog that helps to evaluate what G+ Hangouts can do. It seems this was writen before the release of HoA, but that does not make it less valid.

http://wp.wpi.edu/atc-ttl/2012/03/21/the-pluses-and-minuses-of-sharing-your-stuff-in-google-hangout/