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Clicking on the text does not automatically jump to the appropriate location in the video on iOS devices. This is a limitation imposed by the operating system.
References:
http://stackoverflow.com/questions/16513620/youtube-api-not-working-in-ios-iphone-ipad-but-working-fine-in-desktop-browser
http://stackoverflow.com/questions/8972726/youtube-api-not-working-with-ipad-iphone-non-flash-device