This hwdVideoShare Featured Video module is an Extension specific module, to work this it requires the hwdvideoshare component.
hwdVideoShare provides the Featured Video module but that display only Featured video thumbnails. While clicking on that thumbnail only the video will open and will play.
But my hwdVideoShare Featured Video Module is for displaying the featured videos in a video player based on the module parameter which is specified in the Module Parameters. By default it will display only one Featured Video.
Note: This module will work with Joomla1.7 but the latest hwdVideoShare Nighty Builds only. See for more details: http://hwdmediashare.co.uk/news/392-joomla-17-compatibility
You can download the zip from here