When you install project playlist / my flash fetish, you also get a button for a 'pop-out' player, which will open in a new window. Seems to me that they just removed the button that lead to their pop-out player, and replaced it with their own banner. It doesn't actually involve any complicated coding at all. Just find the code that leads to your pop-out player, make an image that will lead to your player, put them together, and voila!
Hope this helped!
Awesome! Thank you so much!
: )