"Is the light and heat generated by a meteoroid plunging into earth's atmosphere, not energy?"

 

That is almost entirely kinetic energy being converted to heat and light as the meteoroid is slowed by the atmosphere.  Iron, for example, in the object would burn off (oxidize) at those temperatures but its contribution would be small.

 

 

Which leads me to believe that video is a hoax even more now due to the rock flying past appearing not to be heated.

 

It's usually only a thin outer layer that is heated and that erode away. So most meteorites are cold when hitting the ground or falling at terminal velocity.

Or it could just have been a stowaway pebble in the guy's 'chute.

 

http://www.planetary.org/blogs/guest-blogs/2014/0419-forensic-ballistics.html