Video snapshot compressive imaging (SCI) captures dynamic scene sequences through a two-dimensional (2D) snapshot, fundamentally relying on optical modulation for hardware compression and the corresponding software reconstruction. While mainstream video SCI using random binary modulation has demonstrated success, it inevitably results in temporal aliasing during compression. One-hot modulation, activating only one sub-frame per pixel, provides a promising solution for achieving perfect temporal decoupling, thereby alleviating issues associated with aliasing. However, no algorithms currently exist to fully exploit this potential. To bridge this gap, we propose an algorithm specifically designed for one-hot masks. First, leveraging the decoupling properties of one-hot modulation, we transform the reconstruction task into a generative video inpainting problem and introduce a stochastic differential equation (SDE) of the forward process that aligns with the hardware compression process. Next, we identify limitations of the pure diffusion method for video SCI and propose a novel framework that combines one-step regression initialization with one-step diffusion refinement. Furthermore, to mitigate the spatial degradation caused by one-hot modulation, we implement a dual optical path at the hardware level, utilizing complementary information from another path to enhance the inpainted video. To our knowledge, this is the first work integrating diffusion into video SCI reconstruction. Experiments conducted on synthetic datasets and real scenes demonstrate the effectiveness of our method.