Link: http://panerai.watchprosite.com/show-nblog.post/ti-385422/
Video of the Panerai Independent PAM80 Chezard movement in action
===> CLICK HERE TO SEE THE VIDEO <===
Here's a large video of the PAM80 Independent Chezard movement in action. Look between the 2 gears
This is just a follow-up of the previous thread Jester started here: panerai.watchprosite.com
(And below is Suitbert Walter's explanation of what's taking place in the video)
A short attempt to explain what you see in the video, here's Alec's pic again with some additional drawing:

Click to view full size image
The yellow arrow indicates the fourth wheel, it's the last regular gear wheel of a classical going train and usually turns one time in a minute - thus naturally showing seconds. You may recognize the position in this movement would place the small seconds precisely at 6 o'clock position. As can be seen by the arrow, it turns CCW, which means seen from dial side it's cw as it should be
The blue arrow indicates the wheel of the jumping center second - as indicated and viewed from the bridge side CCW as well, CW viewed from dial side.
The red arrows - those are indicating the tiny pinnion which connects the fourth wheel to the center seconds wheel - but due to the special "floating" design it translates the regular (5 increments/sec. as caused by the escapement) movement of the fourth wheel into a "jumping second" at the center seconds wheel.
Floating, that means the post in the center of the pinnion is fixed in a way allowing for lateral movement. This is done by means of an adjustable spring which is also responsible for the advancement of the center seconds.
It's quite easy to observe in the video, how the transmitting pinnion slides sideways to the left (one red arrow) and reaching a certain tension snaps to the right (two red arrows), thus advancing the center seconds wheel for one increment/sec.
I know my explanation is quite clumsy - but I hope it will at least not add more confusion
Best regards
Suitbert