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1st - you can select the text and in the properties panel at the bottom of the screen enter the url of your page containing the movie and make target '_blank'
or if you need more control over the popup window, embed java popup window script on the html page containing the flash, and call the java popup with the url of your html page containing the video in the link parameter of the properties panel.
The second method can use either option as above except, you convert your text into a button symbol, and place actionscript on the button to initiate the popup window.