We can assume that the "She" is his girlfriend who has been missing since the one video... And by the by, the first time you see Alex walk past that large tree, you can see Sinclair sitting under it. (Sinclair is the pet-name for the dude in the baclava, thanks to SlenderNation)
This rules out Alex as being the masked perpetrator. Also, Sinclair looks quite a bit like the guy in the TTA drawings, two responses ago. So...it can start to be assumed that Sinclair is TTA. However, since we've presumably ruled out Alex as Sinclair, we have to start wondering who TTA is.
My favorite theory is still that it's Alex, but that seems more and more improbable. I'm less enthused about it being anyone else because I don't know the rest of the side characters as well.
Eh, I liked this new video (Jay says: RUUUUUN!) but I'm not totally thrilled with the implications...