It would be useful to get a better idea of what you mean by "interactive video." Do you have an example of the type of content you wan to create?
Perhaps it goes without saying, but video files (as in mp4 etc) do not have interactivity features, making Hype's HTML5 a better format for interactivity. If you're looking more for ways to control video from within a Hype document — still have it driven by HTML5 — then there's really a lot of different tasks with different solutions. Some might include pause/play, syncing, seeking, setting up different scenes to have different content, etc. Also where the video comes from matters a lot; if it is youtube sources then the solutions are very different than an embedded mp4 file.