Hacking videos to be more efficient is always a good idea. I hate when people take 5 minutes to explain something that could be said in 30 seconds with proper editing and planning. Go for it.
It's not easy to summarize as a 5 min video as the entire video was an elaboration of this concept. But it's easy to summarize into a couple of sentences.
I generally skim through first by jumping 20secs ea, then rewind if I find anything interesting. And if the pace is too slow I 5x.
https://stackoverflow.com/questions/5845484/force-html5-yout...
The other hack I was thinking about playing around with is removing silences, or long pauses, ummms, etc.