YouTube doesn't follow a standard DMCA model where they file a claim, you file a counter-claim, and then YouTube steps out and leaves it between the two of you. Instead, YouTube hands the keys over to the labels and lets them be judge. You file a counter-claim, and they respond with "Nope. Counter-Claim rejected" or they simply don't respond at all. Either way, your soundtrack stays banned. I've had this happen to my videos twice now using Creative Commons *mash-ups*. There are indeed bits and fragments of their music mixed in there, but mash-ups are on pretty firm ground when it comes to fair use. The licensing rights should lie with the artist, who in turn released i t under a CC license for anyone to use.
Nevertheless, once now with BMG and once now with Universal I've had them file claims (disabling the soundtracks for anyone viewing in Germany) and ignore my counter-claims. At that point, there's nothing I can do anymore. Even if I were willing to indemnify YouTube and tell the labels to come after to me if they don't like it, it's just not even an option.
It's the same crap that happened to Tech News Today when their news show included a clip of the MegaUpload song in a story about it. Normally a counter-claim would be the end of it and they'd have to sue you (which they wouldn't do in cases of obvious fair use), but they feel empowered to ignore legitimate fair use because, apparently, they can.