No problem:
http://rapidshare.com/files/43099016/Clip.h264.html
Edit: (Insane babbling removed)
Currently the colorspace is the least of my problems.
I get random crashes (i.e. not the same place each time) when trying to encode my script with CCE.
I tried installing today's build of libavcodec and it got much further before crashing, but I still can't encode the full movie.
Scanning through with MPC I get "CAVIStreamSynth: System exception - Access Violation at 0x0, reading from 0x0".
I don't know if that's the same thing making CCE crash or not.