Can anyone explain what is causing this so I can tell my brother the moon isn't a holographic projection.  Some sort of natural atmospheric phenomenon?  The guys who have filmed it claim it isn't a photographic anomaly and it's supposedly been independently recorded by several people.

That is an artifact caused by the camera CCD.  It happens to more than one person because CCDs do that.

Kinda like the flying bug films you see where the bug looks like it has 2 sets of wings.  

Occam's Razor my friend.

That's certainly what it looks like to me as well, but he attempts to refute that in the above video by showing a clip that has the camera panning and the "wave" falls off frame before catching up again and also clips that show the "wave" wrapping around the moon.  Does that defense hold any water?

Tell can safely tell your brother that the moon isn't a hologram, because the video is a HOAX.  Holograms simply don't work that way.

See how easy that is?

For a more technical argument:

Holograms aren't free floating images like you see in the movies - they are images stored on a medium (hereinafter referred to as "film").  Recording a hologram requires the use of a pair of lasers to illuminate the object and then be recorded on the film.  Viewing the hologram afterwards requires illuminating the film with a laser - you can't see it by holding it in the sun, which is to say that a hologram of the moon therefore WOULDN'T be visible even if there were such a film in place, because the light from the sun would show the film rather than any hologram that might have been imaged on it.

** the "hologram" on your credit card doesn't require a laser to see it because it isn't actually a hologram - it is a multi-layer image, each layer of which can only be seen from a narrow angle, resulting in different layers being visible as the angle to the card changes.  It does, however, still require a solid surface to work.

Mike