Yes that video covers quite a lot of Smart Object details.
Personally, and probably because I am from a 'pre-digital' age, I struggle to understand any instructions which appear on a screen. I need to see it in a written form.
But I do like the offer of a free beautiful Chinese Lady which appears at the bottom of that video screen!
What I do (using CS5) is to adjust the first Raw file and convert to normal Photoshop work screen but hold Shift while converting. Then right click on the image thumbnail label and select Create New Smart Object via Copy.
Then double click on the new object thumbnail which takes me back to the Raw Studio for different adjustments. Click OK when ready which now produces two Smart Objects with different adjustments.
Adding a suitable Mask allows me to mix and match between the different adjustment options.