the new update for quicktime messed it up. i can't view streamed videos smoothly, and it jumps as if it's reading a severly scratched dvd. how to I revert to the old version by removing it?
It's working well for me so, considering it's pretty hard to roll back updates for QuickTime (it's heavily embedded in the system), I recommend trying to fix the current version instead.
Start by deleting the QuickTime preferences - com.apple.quicktime.plugin.preferences.plist and com.apple.quicktimeplayer.plist although it is only that last one which will probably have any chance of being effective.
Deleting these will reset the buffer size for streaming videos (among other things) so if you still are having trouble, go into the QuickTime Preferences (through the QuickTime menu in QuickTime) and in the Buffer tab, pull the little pointer across to the right.
Long answer: Do an Archive and Install using your OS X disk(s) and download the updater to the last known good configuration from Apple - Support - Downloads and install that manually.
Edit: That is if you cannot get it to work following MJ's advice...