So it seems that Shaun and Eric have sent Michael to a mental hospital of some sorts to calm him down. Make sure to read the description of the video, it helps a lot about what's going on in the series at the moment.
What I noticed about the video is that there was distortion throughout the whole thing, with the occasional transitions where it had Michael playing the piano but it was reversed. In fact, I found the whole piano thing (backwards and forwards) really cool. It made what he was saying seem more artsy, yet creepy at the same time. I think that due to the distortion and in the description is says:
"A note that he wrote on the envelope read 'He was with me here. He will be with me in there. Hope to hell that he won't be with you while I am gone. He isn't happy.' "
"He" is obviously referring to Slenderman, so maybe in the recording of this video, Slenderman was with Michael, leaving him in a trance. However, the distortion made it very hard for me to understand what Michael was trying to say, so I can't really analyze what he had to say. Overall, it seemed more of a plot-development video than any action, but it still was nice to get an update from these guys.