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I was wondering if anyone knows how he edited the "spinning" effect at 0:31-0:37. It seemed pretty awesome.

The effect was (originally?) used by the Wachowsky brothers in Matrix and is called "bullet time", where the camera moves around a seemingly frozen object. For higher budget movies, it is done by placing many cameras all around the object, right next to each other. You can then record all at once at later flip through the synced up cameras, each at the same frame, to create a camera motion around a frozen object.

This however is only necessary if your object would actually move in the meantime (like in Matrix Trinity being in mid-air). In this case, I have to agree with Lethal that they had a capable camera operator to walk around the two hardly moving actors. Then they sped it up and motion blurred it to hide the slight twitching and movement the actors probably did. Cool and very simple effect.
 
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