There is a video wallpaper plugin, yes, but it's not in the official repositories. There is a lucid (and a karmic) version of it in Sam Rog's ppa (ppa:samrog131/ppa), though it's technically unsupported software.
Code:
$ sudo add-apt-repository ppa:samrog131/ppa
$ sudo aptitude update
$ sudo aptitude install plasma-wallpaper-video
The same ppa also includes a bunch of other wallpaper plugins. To grab them all;
Code:
$ sudo aptitude install ~nplasma-wallpaper
Note that this only installs the actual plugin - you would have to find a seemlessly looping video to use it with yourself.
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