Too bad the title is wrong. It is actually the tune called "4 a.m." from the album MrHands (1979) with Jaco Pastorius on bass and i think Tony Williams on drums (not sure about drummer).
AFAI could tell from the video, the bassist is playing a transcription of the (incredibly difficult) bassline.
other than that: great video! Young guys embracing new technology and being creative with it (could be translated to vintage vs new gear, but I'd better put my flame suit on now..)
Herwig