JS API example

This demo (http://kaldev.kaltura.com/projects2009/kdp_js_api.html) illustrates using the js api for controlling the flash player only. Does the js api extend beyond the flash player? In particular, I need to tie linked phrases to specific points in time in the video, and would like that to degrade from HTML to Flash.

EDIT: I realize this is posted in the wrong area. I see no way to move it nor to delete it. So I'm reposting in the HTML 5 area.