How do you make 8 bit videos?
http://www.youtube.com/watch?v=GbfCZx1tRUs
Anyone have any ideas on how to do it?

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Searching 'How to animate" or "how to make an animation" will explain exactly what you need.
iceng is referring to the microprocessor demoscene or games/graphics of old where you programmed the animation to happen and the processor did all the work. These days there are much more sophisticated tools to work with it.
I'm from the age of Toasters.
Unless you happened to mean a video toaster?
Great insight ( video toaster ), I should not expect any less.
From someone with a snazzy floppy work table :-)
A
If I recall after-effects is best for taking existing footage and adding cg effects to it, compositing, roto, etc.
I'll leave the googling of "animation program" to you.