What is the first result? Why isn't it listed with the other results below?
And don't you find the crossed-out title difficult to read?
The first result matches the search as entered (i.e. a phrase search for "How Great Leaders and Organizations Inspire Action").
Because Google can only find one result, it then removes some words from your phrase to see if it can find some more results. In this case, it finds videos that match the phrase "Great Leaders Inspire" plus the word "action" (outside of the quoted phrase).
The crossed-out words are Google's way of showing you how they messed with your query.
I got an even better one. I searched for ["One small step for armstrong"]. Google got no results and it seems that Google then tried removing the word "One". This still got no results, so they tried moving "armstrong" outside the phrase, which got lots of results, so they put "One" back into the phrase and still got results:
Roger: You're right, I didn't notice that result #1 contains my exact query. I really like the explanation of the best matched query, but showing the correction with 4 crossed-out words out of 7 isn't easy to read.
This is much better than when Google modifies your query without telling you, or when they only tell you at the bottom of the page.
"when they only tell you at the bottom of the page"
"In case you missed where I said this below, we did launch a message on the top-right of the search results page. The Search Engine Land article had a snapshot, but here's a direct link to what it looked like: flickr.com/photos/searchengine ...
Over time, we saw that people didn't seem to notice/care about the message and corresponding link much, so it eventually migrated down to the bottom of the search results."