love the last 5 seconds!!
id say from that vid you should really just work on your edging/balance/comfort. u could easily clear that wake if u just straightend your legs at the wake and didnt absorb it, like pottsy said. but the point is to develop a solid base to learn more/have more fun. buy the 1st and 2nd disk of "The Book". the "2 minute drill" it teaches will do wonders for your riding.
you just don't look comfortable out there. carve hard on both sides of the wake. edge in hard just to cross the wake, absorb it, dont try to jump. progressive edge is key. you need to find it and learn to do it without thinking about it.
start with a slight lean/edge and progressively lean back on the line more and more, digging more of your board into the water. this will put intense pressure on the line and when u hit the top of the wake it will send u into the air, as long as u dont take all the pressure away by bending your knees.
so carve around alot, have fun with that. get comfortable. turn that into a progressive edge towards BOTH SIDES of the wake, then learn to "pop" (straighten your legs/body) at the top of the wake and you'll be landing in the flats in just a couple of sessions.
HAVE FUN MAN!