Embedded video duplicated after editing

Something weird is going on with embedded video. When I paste in some embed code from Youtube, it works fine the first time.

But when I go back and edit that same message (don't make any changes) the video is duplicated - there are two of it.

The original "source" code looks like this:

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/I4S2Gu7ZDT0&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/I4S2Gu7ZDT0&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>

When I view source on the HTML page after it's been posted, it looks OK (like this):

<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/I4S2Gu7ZDT0&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/I4S2Gu7ZDT0&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>

But if I bring that same post back into the editor, it looks like this - it looks like the editor is attempting to format the HTML or something and is putting stray paragraph tags into it:

<p>
   <embed allowfullscreen="true" allowscriptaccess="always" height="344" src="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" type="application/x-shockwave-flash" width="425">
   <p>
      <object height="344" width="425"><param name="movie" value="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" /><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><embed allowfullscreen="true" allowscriptaccess="always" height="344" src="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" type="application/x-shockwave-flash" width="425"></embed></object></p>
   </embed></p>

And once it is posted, there are TWO videos:

<p>
   <embed allowfullscreen="true" allowscriptaccess="always" height="344" src="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" type="application/x-shockwave-flash" width="425"> </embed></p>
<p>
   <embed allowfullscreen="true" allowscriptaccess="always" height="344" src="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" type="application/x-shockwave-flash" width="425">
   <p>
      <object height="344" width="425"><param name="movie" value="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" /><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><embed allowfullscreen="true" allowscriptaccess="always" height="344" src="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" type="application/x-shockwave-flash" width="425"></embed></object></p>
   <embed allowfullscreen="true" allowscriptaccess="always" height="344" src="http://www.youtube.com/v/I4S2Gu7ZDT0&amp;hl=en&amp;fs=1&amp;" type="application/x-shockwave-flash" width="425">
   <p>
      &nbsp;</p>
   </embed></embed></p>

Has anybody else had this problem, or should I post it as a bug? It seems like it is happening when the editor brings the HTML into itself, not when it posts it.

Thanks!

Pepsilovr