Seems that I found my own answer.
Jeffrey Posnick
6/22/12
Hello,
What you’re describing is not a supported method of accessing data from YouTube—please don’t do that. You should be using the YouTube Data API if you want to access caption data for a specific video, and the caption data is only available if you are authenticated as the owner of that video.
https://developers.google.com/youtube/2.0/developers_guide_protocol_captions
Cheers,
-Jeff Posnick, YouTube API Team
I take from this response that this feature has been changed since June 2012 and now will never work. You have a good product why not just remove the transcript info from your product offering? I see two other post on here from people asking the same question I have and no response. I guess what bothers me the most is as the product creator you must have been aware that the transcript part of your script has not worked since June 2012, yet you have not changed anything to drop it from your product info.
Hi,
Apologies for the delay in replying.
We’ll look into this – documentation on using this is still suppied by YouTube so there be a disconnect on whether this is or isn’t the correct method. Certainly we’ll make a decision for the next release and make the appropriate changes.
Applian.