No. That is a common misunderstanding. You're forgetting to re-create the
links.
The link is created at the time that you insert the video file in the
presentation. Just moving the file to a common folder does not change the
link and, in fact, will ensure that the link is broken. Do the following:
1. open the presentation and delete all of the videos.
2. move all of the video files to the folder where the presentation is
saved.
3. insert the videos in the presentation (creating links) and save the
presentation to the folder
4. do your Pack and Go.