Original video credit: http://news.gather.com/viewArticle.action?articleId=281474981000681
Very rough and generalized translation of the conversation from this video provided by a friend of The Object Report:
"Are you filming?" "Yes."
"It's a mountain -- you can see the "mountain" on top."
"How impressive -- this is a once-in-a-lifetime opportunity."
(then he says something about how it's throwing out sparks, I think)
[General statements of disbelief]
[They start singing, "They arrived dancing --"]
They talk about how it's going away, then "Look, it's back"
The guy says to zoom in, the guy filming says "yeah but it doesn't reach"
Around 1:20 the little kids are either joking or expressing genuine fear that once you see a UFO you disappear. The man in the background say "no, no, nothing happens" -- he tells them to the enjoy the moment because things like this only happen once.
They start discussing if they should call the news, or the police.
The guy in the background says again it's a unique opportunity, talk about how bright it is, and says it might be some kind of star that we don't yet know about.
The little kid says he thinks it's getting closer.
At 2:20 the woman says it might be a star that has ... "exploded?" (more of a reference to a "shooting star", ie: meteor)
"Everything you say is recorded as well"
2:35 They talk about how it's throwing out "fireworks".
More talk about how you should appreciate the moment because it's unique.
At 3:12 he says, "Look, they're communicating with us" when the lights flash.
It's going away -- the red light is gone -- no, the red light is still there, but it's a lot lower.
Lots of general chat about how it's going away, it's moving, something is higher, etc.