Tonight, whilst parked-up in the Aldershot Arena, near Farnborough, Hants 31/10/08, we (Ken and Hilary of BEAMS), witnessed some interesting phenomena. We were just about to leave from what we thought was going to be an unfruitful watch, when we suddenly spotted a bright orange object suddenly appear in the sky.
I quickly got out of the car and with my camera initially set on night shot, I zoomed in on the object, carefully re-setting my camera to normal mode whilst continuing to film.
Hilary watched the event through binoculars.
Unfortunately this recording was made through a high, chain link security fence, so my vision was partially obscured, but still the resulting footage is quite detailed and clear.

I can say with some certainty that what I filmed was no plane or anything else so obvious, (such as a flare, which I thought it might have been at first), Chinese Lanterns and such like, due to several factors, e.g. the absence of strobing lights etc, etc, but most notably it's movements; in particular at near the end of the sequence when the object can be seen to reduce in size, it is apparent, (particularly when viewed on a normal dvd player and tv rather than the slightly grainy You Tube player), that this mysterious aerial body performs a kind of horizontal hyper-leap, covering many miles in a split second, as it flits to the right hand side of the picture. 
The general area where this object was seen to appear above and travelling across was between Lynchford Road and the Cockadobbin roundabout.
Incredibly, after we left the area, eventually heading along the Fernhill Road towards our house, we witnessed two more strange, very bright objects in the air above Fernhill proper, which I attempted to film from inside the vehicle. Hilary had to find somewhere to stop, which was extremely difficult with loads of traffic behind us...so hence there a bit of swearing on this next video I am afraid, as "one car after another" had to swerve around us as we pulled up on the side of a very busy road on a Friday night. 
KJP