With the modular Xorg build the XVideo colorkey value is 0. I'm using CVS Head on an AMD64 with a Radeon 9200.
Likewise on i386. When switching away from a workspace with an Xv output in it, I see the video image against black areas of my desktop, and it interfaces with black text in the same area on other workspaces.
*** Bug 4825 has been marked as a duplicate of this bug. ***
*** Bug 4969 has been marked as a duplicate of this bug. ***
"Me too" with X.org 7.0RC2, Radeon 9200.
*** This bug has been marked as a duplicate of 4720 ***
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