It’s evident that the camera operator zooms in on the UFO. One can clearly see that the UFO isn't debris from the Space Shuttle. The debris falls in a descending trajectory. Furthermore, a trail of smoke is seen behind the falling debris. And as clearly seen in the video, it’s evident that the UFO flies parallel to the ground. The tell-tale sign that the unknown object both is real and flies parallel to the ground can be seen when one freeze-frames the video 15 seconds into it! Then the condensation trail behind the object can be easily detected.
The video source (who's not the videographer) says that the UFO is diamond-shaped. To me the UFO looks disk-shaped with a dome on top and the reason it looks diamond-shaped is because the camera zoom hasn’t been set up properly.
This disaster occurred during NASA’s STS-107 Mission.
http://www.youtube.com/watch?v=N9vtof0HoSM
