Ok, when you are liveleak embedding you need to do almost the same as the above, but with one difference.
go to
www.liveleak.com
Click on view embed code. For vbulletin, the embed code wont work, but what you are searching for is a bit of code that you will pull out of there:
<object width="450" height="370"><param name="movie" value="
http://www.liveleak.com/e/5d6_118580...</param><param name="wmode" value="transparent"></param><embed src="
http://www.liveleak.com/e/5d6_1185807321" type="application/x-shockwave-flash" wmode="transparent" width="450" height="370"></embed></object>
Ok - the bit you want, is the second bit with the 'e' in it:
http://www.liveleak.com/e/5d6_1185807321
so get this bit and do as follows, put embed tags around it. You can use the 'vid' button on the toolbar on Vbulletin. Again strip out the hotlink
And then you are the liveleak embedding maestro!