Google is working really hard these days on all its products and services. After Google+, it has started working on youtube now. Google's youtube sees an update every now and then. There have been many plugins and scripts for it to make the viewing better whether it was darkening of the screen or hiding the text behind and a lot more.
Recently Google launched a new viewing mode known as 'Cosmic Panda'. The mode changes the interface to flash player components with completely new buttons. It is free to use and you can try it by clicking on http://www.youtube.com/cosmicpanda and then clicking on the 'try it out' button.
It comes with a lot of new features like changing the quality of the video or changing the viewing area. It comes with changes in even the profile page with wider thumbnails now.
Hoping to see you tube changing to 'Cosmic Panda' full time now.
