He did both - referred to the video and used "act of terror"
“Since our founding, the United States has been a nation that respects all faiths. We reject all efforts to denigrate the religious beliefs of others. But there is absolutely no justification to this type of senseless violence. None. The world must stand together to unequivocally reject these brutal acts…No acts of terror will ever shake the resolve of this great nation, alter that character, or eclipse the light of the values that we stand for.”
He did speak to the UN on 9/25 and once again insinuate the video was to blame. By that point everyone knew it was and act of terror.
"“Since our founding, the United States has been a nation that respects all faiths. We reject all efforts to denigrate the religious beliefs of others. But there is absolutely no justification to this type of senseless violence. None. The world must stand together to unequivocally reject these brutal acts…No acts of terror will ever shake the resolve of this great nation, alter that character, or eclipse the light of the values that we stand for. We do so because in a diverse society, efforts to restrict speech can quickly become a tool to silence critics and oppress minorities. We do so because, given the power of faith in our lives, and the passion that religious differences can inflame, the strongest weapon against hateful speech is not repression, it is more speech -- the voices of tolerance that rally against bigotry and blasphemy, and lift up the values of understanding and mutual respect.
I know that not all countries in this body share this particular understanding of the protection of free speech. We recognize that. But in 2012, at a time when anyone with a cell phone can spread offensive views around the world with the click of a button, the notion that we can control the flow of information is obsolete.
The question, then, is how we respond. And on this we must agree: There is no speech that justifies mindless violence.
(APPLAUSE) There are no words that excuse the killing of innocents. There is no video that justifies an attack on an embassy. There is no slander that provides an excuse for people to burn a restaurant in Lebanon, or destroy a school in Tunis, or cause death and destruction in Pakistan.