The coolest point: About 2:18, when then whole mosaic of cells goes nuts. Cells in the club, just tearing it up.
What's actually happening here is a pretty simple experiment: researchers hooked up an iPod to the (dead) squid is such a way that the squid's cells were given little tiny shocks in sync with the music. They split the wire so that they could hear the music, too, and see the chromatophores — cells responsible for the squid's ability to change color — "dancing" with the music. The result video MIGHT be better than the original, in which chromataphores play no significant role: