There's a "poster" attribute you can use to specify the image that is shown before it starts playing. Example syntax:
[video src="something.mp4" poster="http://www.example.com/image.png"]
I finally figured that out yesterday :)
But, thanks Ben for your help!!!
Next issue how to get it to play on a stand alone page with Firefox?
I took the source code from the BlogEngine Page and used that for the standalone page.
Video plays in other browsers but just not FireFox.