When I uploaded by previous video for my post How to offer newsletter subscription to your blogger blog readers, I observed this feature. Though this feature is not available for all the videos and it sometimes appears for my video and some times I vanishes away.
I think YouTube is still experimenting this feature. See the following screenshot :
On my playback bar I could see the button with "normal" label. It basically denotes that video is running at usually speed. If you wish you can increase its speed up to 2 times or decrease its speed to 0.25 times. So if you have a boring official presentation or some audio lecture, you may like to use 2x speed. If the video is about some beautiful girl, you may wish to reduce speed of video to 0.25 times. Hopefully, this feature would be available for all the videos soon.
I think YouTube is still experimenting this feature. See the following screenshot :
On my playback bar I could see the button with "normal" label. It basically denotes that video is running at usually speed. If you wish you can increase its speed up to 2 times or decrease its speed to 0.25 times. So if you have a boring official presentation or some audio lecture, you may like to use 2x speed. If the video is about some beautiful girl, you may wish to reduce speed of video to 0.25 times. Hopefully, this feature would be available for all the videos soon.