Possible, with limitations...
In short, you cannot speed up a streaming video, such as those founds on YouTube, unless the site explicitly gives you that option. You can, however, see if the site offers you the option of downloading the video. If you can download the video, you can use a program such as VLCPlayer to begin playing the video, then press the 'play faster' button to accelerate the video.
Hope this helps,
P.S. I received your PM, but prefer to reply in the forums so that others may benefit from the thread in the future.