There is no reason to think that this is a hoax video, but it is difficult to tell exactly what it is. However, the display of lights does suggest that it may be an unknown.
I watched a news program, one of the reporters said she/he had contacted the local observatory. The gentleman there said that a satellite had been in the area and was known to have the changes in color that was part of the original video.
There may be a few inconsistencies with this comment because I saw it late last night and now it's early morning and I'm tired!