The idea of a computational universe is interesting, but I suspect the metaphor is overextended. At least, this model implies theism or polytheism, a designer of the computer and an interpreter of the signals carrying the information. If we're the interpreters, the universe wouldn't have been processing information before we started to look at it.

We should be wary of theories that draw on contemporary technology for their metaphors, since they tend to be superseded. Still, it's an intriguing idea, and it figures in some interesting science fiction novels, such as David Zindell's Neverness series. I'll have a look at that YouTube video.