VideoGhost is an application designed to watch online videos transparently on your desktop. Simple to use. After launching, a little icon will show up in your toolbar that you can right click for all your options.
Alt-Down: If locked sends to the back and unlocks. If unlocked and on top sends to the back. Finally if unlocked and in the back it'll bring it forward.
Alt-Up: If locked, unlocks it and if unlocked will show the URL box hit it again to hide if needed
Alt-Right: If locked, unlocks and lets you set transparency. If unlocked and transparent it will hide VideoGhost.