Update Here is the official Youtube response.
Sorry if this is a little different than what you were told by our associates in Copyright, but it appears the reason your video is blocked in Germany is due to ongoing issues with GEMA, the German Collecting Society. For more information, please read on:
At the moment there is some content that is blocked in certain countries even if the rights are secured with most rights holders. Although we may have permission to monetize content from these rights holders, we can only monetize content if all rights in the videos are cleared. This includes music in Germany. While YouTube has agreements with local German and global music labels as well as German artists, such labels and artists can only monetize their content outside of Germany. YouTube is in communication with the German Collecting Society (GEMA) in hopes of making music content in Germany available in the near future.
The YouTube Team
Video uploaded to Vimeo for anyone having trouble viewing it on youtube