I was wanting to embed a photo from my instagram account in to my blog. I thought it would be a simple case of copying the embed code from the photo, paste it in to my edito
It's possible that the Instagram API has been changed, someone reported a similar issue with Tweets not embedding properly recently too. Log it as an issue on http://issues.umbraco.org.uk with some report steps and hopefully someone will be able to fix it.
I've just tested and it does the same for me too.