Would the distress Nazis might feel at Hitler's being mocked be "entirely understandable"?
In the same way, the discomfort Muslims (claim to) feel over an internet video is neither acceptable nor excusable. By saying that it is, you're not only legitimizing Islam's prohibitions against any criticism of Muhammad, Islam, and Qur'an (even when truthful), but you're betraying those millions of innocent non-Muslims living under the constant threat of Islamic violence and discrimination.
(And that's not far-removed from the Obama administration and its propagandists' absurd claim that the video "ignited" Muslim rage, which is as nonsensical as claiming that reporting about the Holocaust caused the Holocaust.)
Have you seen the video/trailer? Though it is poorly made, its claims regarding the genocidal pedophile Muhammad's atrocities are accurate, as they come straight from Islam's own "sacred" texts.
So, unless rioting Muslims are cinephiles enraged at really poor production values, they have no right to be upset at a video pointing out the words and deeds of Muhammad, whom they otherwise exalt as Allah's "beautiful pattern of conduct" and the "Ideal Man."