Was checking out the Rainbow Sandals Battle of The Paddle website and noticed they have put up the video from the 2012 event. I am guessing this is the one that the funding went to rather than the live webcast. It is a really good watch at an hour long and interesting for those (like me) who have never been there to see a bit of the area and get a bit of background knowledge on the event.
Actual racing starts around the 28 minute mark.