I had a devil of a time running this. Either the 10bit or the 8bit. I have a 2011 MacBook Pro, and here's the kicker... my 2009 MacBook White ran the 10bit and the 8bit with no problems, and it's much slower. After some reboots and clearing my processes and getting rid of start up items, I managed to run the 8bit perfectly in a player called NicePlayer, and the 10bit only has very minor macrblocking at the very beginning. The most intensive section (the black and white horizontal shift) runs fine on both versions on machines. Mirko confirmed the encode, so I'm unclear why my MBP has issues with the 10bit. I'm thinking something got borked in the recent 10.8.2 update, but Mirko told me a friend of his with an i7 MBP ran it just fine.
As for the video itself, once I got it running, I enjoyed it. For some reason Mplayer2 would slow it down but render everything correctly, so for the first two minutes I was just like, "Nice effects, but there seems to be zero sync..." Until I realised the video lasted longer than the audio and I had issues which needed to be addressed. My personal jury is still out on Angel Beats. I tried watching it when it first came out and couldn't make it past the feeling that Yurripe was just a poor man's Haruhi. I recently tried to watch the series again and made it to the end. I still don't have a strong connection to the characters and so I felt that I missed a lot of the emotional power in your video largely because outside of perhaps Angel herself, I don't give much a damn about any of the characters. Not your fault.