I looked at some of that contact juggling stuff and it's fucking amazing! though, it doesnt seem to be exactly the same thing as that basketball vid.
The basketball guy just tips the balance making his arms and his neck sort of a ramp, so the ball will roll trough the arms all by itself
Contact juggling is more like the guys moving the opposite direction that the ball's spinning, so it sort of appears as if the ball is magically hanging in the air.
Both could look really cool but contact juggling could go a lot faster, as you can see in the video you linked yourself.
Sometimes after you've looked at a lot of reference you just gotta think back to the moment you decided to make the animation, and use whatever part of reality your guts tell you fits your goal best, the answer ultimately isnt out there because you're the one in charge of the piece and YOU know what you want people to feel when they watch this.
if you decide to go with contact juggling...dont make the guy GRAB the ball! look at this vid
http://www.youtube.com/watch?v=are786WId4U&feature=related it's a no-no!
....I think using contact juggling as the basis for a fire char would be kickass =D