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I prefer gyroscopes:
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When I first saw that video my immediate reaction was to reach into my desk draw, retrieve my slinky and test it myself. It worked - epically cool! (You can see the effect without the need for a slow mo camera)
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There's no suggestion in the video of a force at the bottom rings trying to collapse upwards, which may help explain why the bottom rings are not falling with gravity until after the wave propogates from the top rings. Shouldn't that be part of the model?
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Yeah, the explanation in that video only explained why it didn't violate Newton's 2nd law.
There's a better explanation in this video: http://youtu.be/mAA613hqqZ0?t=2m20s
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