Yet another awesome thread! Thank you!
It also contains very interesting info on how spacecraft are built to carry on working even when things go wrong. I immediately suspected something was off when I heard "Bypass across the board (...), no action!" a 0:32. That can't be right. I have no idea what it means, but "no action" means that "we see the mess, don't do anything about it anyway". And it happens again at 1:02, "Atlantis, Houston, No action on the mps H2 out key", again, "we see your warning light, do nothing about it".
Also, it reminds us of the big, steel, cubic balls of atronauts. Picture this, you're sitting on a machine that's killed 14 people already, shooting at high speeds thorugh the atmosphere, with a fire under your ***. And somebody tells you "Hey, yeah, there's crap going on. Chill.", and what do you reply?
"Houston we copy, no action"
In other words:
"*yawn* Yeah yeah, doing nothing. Where's the Sudoku magazine?"
At any rate, takeoff went well, so one of the many redundancies must have kicked in, or maybe it was just instrumentation failure, a false alarm.