I'm not a racer and have never been on a track, but here's my observation:
At about 0:24 seconds into the video (slow motion), it looks like the rider is gaining on the rider in front of him/her. Just a split second before the tire loses contact, the front suspension suddenly compresses, indicating to me the rider grabbed too much front brake and caused the front tire (already coping with cornering stresses) to lose traction.
As speedandstyle mentioned, there may have been dirt or sand on the track which would have exaggerated the condition.
asking the guys, they told me the track had "events" that were supposedly "fixed/patched" with new tarmac, so the guy went through new I guess heated tarmac, braked a little to prevent running into the guy in front of him AND with the lean angle he had, lost the front.
by the way, this is one of the bad tracks out there, though we dont have that many either.
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