It seems that this terrible video surpassed the "Evolution of Dance":

http://www.youtube.com/watch?v=7AVHXe-ol-s
(Cut Chemist feat. Hymnal "What's the Altitude" – 88,430,146 views)

but it's not included in the official list of popular videos:
http://www.youtube.com/browse?s=mp&t=a&c=0&l=&b=0

Cut Chemist was featured in an iPod ad, the same as the previous artist that managed to have a most viewed YT video: http://blogoscoped.com/archive/2008-03-05-n34.html