What happened here is that one of the engines died on the B-25. I'm not sure if I completely remember what happened, but I believe the pilot was pulled back by the spotter as he was making his approach. The pilot then got distracted and lost control of the plane as he was trying to flare. The spotter was very fortunate, as he almost died that day. There is a long thread some place that discusses this video at considerable length. You can watch it on YouTube:

http://www.youtube.com/watch?v=gwDQvI-weN8

NorfolkSouthern