Well you are lucky today because I got two ways TO GET RID OF THAT THING.
The First Way:
Step 1:Remember where you left off.
Step 2:Turn off your wireless router/brodband etc
Step 3:Turn on your wireless router/brodband etc
Step 4:Refresh the web page.
Step 5:Continue where you left off
Step 6:Enjoy watching the video
The Second Way(Note that this can only work if you are suing Mozilla Firefox):
Step 1: Click PLAY button of Megavideo movie, click PAUSE and wait for the video to buffer to 100%.
Step 2: After the video is done buffering, go to your menu bar on your Mozilla Firefox, and click on File > Work Offline.
Step 3: Watch the movie.
Step 4: Unclick the “Work Offline” button and do the same with other movies if you want to watch.