I watched this (more from a technical interest in tools used than anything)

I'm guessing she used either Toon Boom Studio (I doubt she used Developer, there doesn't seem to be much interpolation between frames) or perhaps Flash?

I'd still bet money on Toon Boom as the phonemes in the Lip Syncs appear as if they were automated, plus the Cut-Out animation style she used is easily doable in either Toon Boom or Flash.

Anyway, Good to see more people releasing content under Creative Commons :)