OK, having taken a look at your clip I know what the problem is.
The clip is interlaced, but the field
are the wrong way around. I'm not sure how much you know about interlacing, so I'll quickly summarise just in case -
Each frame of an interlaced video file actually contains two separate 'fields'. These are stored on alternate horizontal lines. So lines 1, 3, 5 etc would have one field, while lines 2, 4, 6 etc would have the other one.
The camera records these fields at slightly different times. This means movement can be seen between fields. When you watch this back on a TV, it shows one field, then the other field, before moving on to the next frame. It does this in such a way that you don't notice and it just looks 'normal'.
When you watch interlaced stuff on a computer, the player will normally either blend the fields together or drop one field entirely during playback, so again it looks 'normal'. Generally editing programs hide interlacing from you for the entire process, so you don't have to deal with it.
When it comes to VFX it gets a bit trickier, as you'll often be working frame-by-frame. Lightsabers, for example, have to be applied on a field-by-field basis, otherwise it'll look odd.
VisionLab handles this by splitting each frame into its separate fields. This means that a 25 frame interlaced video will actually be displayed as 50
individual fields on the timeline. When you render the project, the fields are reinterlaced back into a normal video file.
What's happened with your video is that the fields have ended up round the wrong way at some point. This means that the motion ends up all juddery. The field play order should obviously be 1, 2, 3, 4, 5, 6; but what's actually happening in your video is that it's going something like 2, 1, 4, 3, 6, 5 - it's all out of whack, basically.
This most likely happened due to an incorrect setting when setting up the project in EffectsLab. The scan method setting is the one to check - you need to select the right interlaced option, be it even or odd. Interlaced NTSC footage is normally 'even'.
It's easy to spot, though. Once you've brought in your video, step through it field by field. Make sure the motion is all going smoothly in the right direction. If it's jiggling back and forth, it means that the field order is wrong.
Hope this helps! Interlacing can be a bit of a nightmare if you get the workflow wrong.
Oh, and also: the video looks like great fun.