OK, my wife watched the video and was non-plussed. She said that was all completely within the realm of any decently movement-trained three-year-old.
For her frame of reference, she used to teach little kids gymnastics classes for the city when she was in high school, then later she helped The Little Gym to open franchises across the country. She's had enough experience in that area to easily call BS on that video.
I also like how the picture of Liam on the rope is a still photo. It also happens to be the "hardest" thing shown on that video.
Seems like parents trying to make their child a celebrity in order to cash in on it (however they think they'll manage that...).