Nope. There've been no changes with regard to that feature and I see the link as usual. The only caveat is that it appears when the page finishes loading the JavaScript (of course, that must be enabled). Other than that it should be fine. Give it another try.

For example, http://www.videosift.com/story.php?id=10039

I can't edit those tags if I wanted to.

I can edit them. edit link appears, and text field becomes editable when I click.

it does take a second for the edit link to appear

James: Very interestig. I do not see it, in the video link as an example, with Mozilla v1.7.13's Web browser (not Firefox). I tried the same video with IE6.0 SP2 and it shows up. Odd. I viewed the source the Web page under Mozilla, and did not see any "edit" key words.

ant.. delete site cookies. relogin.

Joedirt: Nope, that didn't fix it. I logged off, deleted all www.videosift.com and videosift.com cookies, relogged in, and rechecked videos. Also, this is on my second machine with the same Web browser.

Hmm.. One thing try turning on http referrer if it is off, delete cookie, and re-login.
Another thing, do you know how to pull up the javscript console? Might be error msg in there.
Third, you can open the page about:config and search for javascript make sure it is still enabled.
Do you have a hosts file that blocks all the popup and advert IP addresses. It's possible that some ad needs to load before the javascript part.
I went through this no edit thing for awhile also.
Question, does click on favorite do it in AJAX, ie. loads in page while watching a video, or like refereshed page instead.

Joedirt: Referrer enabled, adblocker disabled, and cookies resetted. No help. Hosts doesn't show anything funky.

However, Javascript console did show this:
Error: missing name after . operator
Source File: <a rel="nofollow" href="http://www.videosift.com/js/script.php?id=10039&login=&from=/story.php&fromuri=id=10039">http://www.videosift.com/js/script.php?id=10039&login=&from=/story.php&fromuri=id=10039
Line: 850, Column: 18
Source Code:
if (typeof form.private != 'undefined')

Maybe this is it?

Interesting. I do have edit if I am viewing a list of videos like http://www.videosift.com/ ... But if I am looking at one specific video, then I don't see it.