It's not displaying because it's not a normal image link. It doesn't end in .gif or whatever. Also, no, it'd be pretty much impossible to take an 8MB gif and turn it into a 1MB gif without losing almost everything.
If you want to try to cut it down, I would first shorten it to just the first part, before it cuts to the view of the man from behind. Then, if it's still too big, you can open it in GIMP or Photoshop and take out individual frames in the middle, so it's less frames per second. This makes it slightly more choppy, but drastically cuts down on filesize. Good luck!