Our theme supports video for single product page. I have checked the possibility to add video and see no obstacles to do it now. You may create another test page from woocommerce>add product or add video to any existing product using iframe tag. Pay your attention that in our theme video will be added to product gallery only!
If you want to replace featured image with video you should make additional customization (in case you have appropriate skills) of following file: royal/woocommerce/single-product/product-image.php . We recommend to place all the changes in child theme.
Additional customization is beyond the scope of our support.
