Not quite @kfrajer - it’s actually really simple:
There is version 1.0.1 of the video library, released in 2015, which one would currently get when downloading the library through the Contribution Manger; this uses GStreamer version 0.10. Let’s call this the “current” version of the library. It works (unless it doesn’t).
Then, there are also more recent changes that were done to the main processing-video repository: these switch the library over to GStreamer version 1.x (using Neil’s bindings). Andres released a test version of the library containing these changes. Let’s call this the “next” version.
Now the issue with the “next” version, and that’s also why it was released as a “test” release only, was that it still has some features missing or not correctly working, compared to the “current” release. (The most complete list of these things is here.)