[url= http://vimeo.com/5167762 ] Video 1 [/url]

[url= http://vimeo.com/4915712 ] Video 2 [/url]

Rules according to the FAQ:

[url= link ] link [/url] = Makes the given url into a link.
[url= link ] title [/url] = Makes the given title into a hyperlink pointing to link.

hmm, that still doesn't seem like it's working right, but at least the links now work. Wonder if it's something to do with me having both html and ubb ability.