This program is pretty much exactly what I was looking for. OpenShot was programmed by children and I'm not really in a position to buy Vegas right now.I took a video of yours and slung it into a VP8 .webm throughYou must be registered to see the links(which is free and open-source, so no watermarks)
The 12,000 kpbs bitrate you use is for 60 fps video, but the vids I peeked through are mostly 30, which means you could get away with anywhere between 3,000-6,000 depending on the intensity of complex motion in the clip. And you use 48 kHz for audio when the 'standard' for HD video is 44.1 kHz, which will also reduce size.
I took a 24 second clip and reduced it's size from 35.3 MB to 6.7 MB. 5 times smaller with no noticable loss in quality on a 1080p monitor.
EDIT: Nevermind, found it. New version probably up tomorrow.