Hah! That last point does get a mention.

Yes, it's easily watchable in chunks - in fact I'd recommend watching it that way. I don't know anything about "Twin Perfect" who put the video together beyond a quick web search. Apparently they offer all kinds of explanations for films and some games and appear to be widely hated by many gamers. The presenter for this film is called Rosseter. He is occasionally annoying, but generally does a clear and professional enough job.

It doesn't offer explanations of the story in the sense of additional information about the events leading up to and following the death of Laura Palmer, but it is satisfactory as an alternative account of what's going on. I watched some parts of it again and I was surprised by how well-structured and convincing it is, even though (as I said before) it reaches a bit too far sometimes. It's also quite entertaining.