Not a bad video. This move can be really useful if your opponent uses the whizzer to stand up against the cage. All you've got to do is get the underhook on the other side, yank the whizzered arm out and transition into this.
Personally I prefer to grip the far tricep in this instance since it provides more torque and control over the arm, but grabbing by the wrist sets up the transition after the throw better.
Then again, I'm no judoka