A reparse point is what linux calls a symbolic link. It is actually similar to a shortcut or link that people use all the time. An icon on your desktop is not really the program that it launches - it is simply a file that points to that program and tells it to launch when you click it. A reparse point is the same concept except at the OS level instead of the user level. In Windows 7, the easiest way to see an example of this is to open a command prompt and type dir /a and press enter. You will see several entries that say "junction" and it will show you what they point to (junction point is another name for reparse point). Any files that a program tries to write to a directory that is really a reparse point get sent (totally blindly to that program) to the other directory instead.
If you're having problems backing up video files, it's likely because you've set the video library as the location to backup, and possibly reassigned the location of the video library. If that's the case, all you have to do is open explorer and right-click on the video library and select properties. This will show you the actual location of your video folders. When you go into the backup program, deselect whatever is already selected for backing up your videos (such as your video library) then select the actual folder locations that you see in the properties instead.
If it's something different than the video library causing the problem, simply navigate to that parent folder at the command prompt, then execute dir /a and get the location the reparse point causing the problems actually points to, then deselect that reparse point from the backup set and again add the actual folder it points to.