We are confirming you that Theme can accept any HTML, JavaScript, jQuery, CSS, iFrame etc. in the Banner Video. We didn’t find any problem in Theme.
In your case, your banner video box may be using wrong code or it may be a caching issue. You can try clear your browser caches. It may be raised from any Plugins too. Old version of video file is showing from any caching plugin or file directory. These are not related with Themes. Themes don’t have any control over file upload and delete system. Those are controlled by WordPress Core or Plugins. In that case you should clear/purge the cache. You should also check the codes and make sure those are proper.
Some old IE Versions may not support HTML5. If you consider those IE versions you should YouTube Video instead of HTML5 video.
If you want us to check your sites please provide the following information to E-Mail Support
– Site URL
– Temporary Admin ID and Password