This is an interesting article, quite relevant to the topic of machinima.com contracts. Perhaps you could consider joining a different group on youtube, if negotiations with Machinima.com fall through. Be careful with signing a new contract, would hate to see you sign your life away to them.
If you are allowed then perhaps start to upload other content to youtube and try and get partnership/coverage that way. It won't pay the bills at first but could help you get further employment.