I will begin by taking a short look at the history between the two nations, and of Egypt and Palestine for that matter. Ever since the religion of Islam emerged from the flames of tribal warfare and the conquest of Mecca in the deserts of Saudi Arabia, there has been a general movement sustained and repeatedly taken-up to either expel or exterminate the Jewish populations from the region. Beginning right after the second world war from 1948 only, we have found the Syrians, Palestinians, and Egyptians attacking the modern state of Israel time and time again through the raids of 1954-1955 through breach of ceasefire, reallocation of the Jordan river's waters for the express purpose of hindering Israel's national water carrier (designed for transporting water for further Israeli colonization of once-desert land) and its following "War of Attrition", Palestinian and Neo-Nazi terrorists capturing a plane of 100 Jewish people and holding them hostage, the assassination of Sadat (the only friendly Egyptian president to Israel in many, many years) by Egyptian army renegades, missile attacks from Syria and many, many other grievances that have been committed.
I will also go the distance to say that Israel is not completely innocent of its crimes either, as with the duping by Britain and France to go to war with Egypt over its canals early in the modern state's history. However, all of this history goes to prove the main point of this argument: that incidents such as these shown in the video have been going-on for a long time now, and although this certainly does add to this list of bad history between the two nations, it in no way shows that a peak has been reached or a political breaking point between entangling world alliances is close.
I will take this response one step further, however, and say that if world war III were to begin, its most imminent threat could certainly stem from the Zionism vs Islamic fervour we see in the middle east that you have pointed-out. The only two real players for this kind of war, however, would be the more or less obvious U.S. of A pitted against the Russian Federation. Without returning to some of the more reminiscent cold war era arms play and dress rehearsals, Vladimir Putin has been competing for the return of Russia's superpower status since he first took office in 1999, became Prime Minister from 2008-2012, and then continued a third Presidential term that continues to this day. Already Putin has taken the Russian income tax down to only 13%, encouraged small business heavily, reduced corporate tax from 35% to 24%, and continued to industrialize Russia to the point where its GDP has increased 6 fold from when he was first elected. The grain of salt here, of course, is that the national economy before his first Presidency was already at an incredibly low point. Nobody can deny that. However, the economic potential for such a nation under a man who is introducing capitalism (Using the older USSR's history as a convincing incentive I might add) will make the new Russia a real threat to the balance of power on the world stage.
Vladimir Putin, putting country economics aside, has also been exercising exact control over the population he leads. By carefully taking opposing points of view with the current and previous popes, he is making the Eastern Orthodox Church that is highly unique to Russia very much more prone to a return of Tzarism. On top of this, the population has a very high opinion of him due to his help to raise the Russian Federation from the ashes of the old USSR. If you take his KGB background and string of censorships due to his creation of the "Federal List of Extremist Materials" in accordance with the "Fedearl Law on Combating The Terrorism" in 2006, the control he exacts over his people is nothing less than incredible. Journalists are even as far as encouraged not to write on information to the public that may not "please" the authorities.
One last point of interest lies in Vladimir Putin's recent interest in the Middle East. Siding almost exclusively with Syria in middle-eastern conflicts, he has undoubtedly taken an interest in keeping the U.S. on its toes in the middle-east, and seeing as he has good relations with most of the middle-east due to his support of an Islamic government, he may have nothing short of an alliance with the middle-east if a world war III were ever to emerge. The U.S. of A would be left without its most vital source of crude oil, and Putin would have both these resources to himself and China as the southern industrial gem in compliment to the Russian industrial heart of Eastern Europe. This would put America in a rather precarious position for more obvious reasons, and to make matters worse he has demanded from Japan, now America's largest protectorate state (and slipping away from that status), some of their offshore islands that they had acquired from Russia in the Russo-Japanese war of 1904-1905. Japan, as I had just stated, is a slipping American protectorate at the moment. The reason I write this is because in 2007, it was allowed by the U.S. to have a standing army and in 2010 and 2012, there have been attempts by their government to revise the constitution itself (without amending it) from its 1947 state.
All-in-all, however, Vladimir Putin is a much more level-headed man when it comes to world diplomacy than one might think. He has been improving Russian relations with NATO since day one of his taking office, and there is no sign at the moment of any sudden eruption of war between the U.S. and the Russian Federation. Although it is very clear that he is in want of increasing the amount of power that he controls on the world stage, I do not think that he plans to use it in a thermo-nuclear war- and definitely not in a war of world proportions anytime soon. He is most likely flexing his Russian muscles, so to speak, in order to achieve superpower status for his country that the USSR enjoyed during the cold war. We must continue to remember that the days of Joseph Stalin, Leon Trotsky's biggest political mistake, are over, and that the country is no longer living in the shadow of such a man.