Thanks @mancae90 for sending this in. Seems, WhatsApp Beta ver.2.11.322 for Windows Phone 8 devices has the ability to send the per-recorded videos from Gallery. The video file size which can be sent via WhatsApp is limited to 16 MB as revealed by him in his tweet. Earlier @mancae90 has also revealed that WhatsApp Beta has the ability to receive and save videos to Windows Phone devices.