imothep85 looks like he tested some of the last release of mmf2 and indeed they have a cool feature. You can display sprites on top of a video object (ActiveDirectShow if I remember)
I actually used that to help a friend with her game http://vimeo.com/25798545
This way all the camera angle of this point&click were in some video sequence (instead of heavy animated sprites) that looped and you could overlay sprites and UI on top of it.
So yeah it could be a nice addition for c2 but I don't think video support is that advanced yet for HTML5... Don't know (:Yann2012-03-11 11:10:56