Include Vimeo's Froogaloop library
Is your js file even working? 

Is your JavaScript file jQuery? 

In Drupal, you wrap your jQuery code like this

(function ($) {

    //code goes here

})(jQuery);


For Example:

(function ($) {

    $(document).ready(function() {
         $(".button").click(function () {
             $(this).next('.content').hide();
         });
    });

})(jQuery);


Not sure if you did this already. 

Did you also add the frugaloop js to your module? Putting it on the libraries folder doesn't do anything unless you call it. 

Use the function drupal_add_js to call it.