The incident occurred in an area adjacent to Israeli-annexed east Jerusalem. The wounded boy was being treated at a hospital.
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The security guard was moderately injured, police spokesperson Luba Samri said.
The edited seven-minute clip showed the Arabic-speaking men questioning a young suspect and forcing him to watch CCTV footage of the October 12 attack.
Most of the Palestinian attackers have been in their late teens or early 20s.
It was the second stabbing attack in Jerusalem on Tuesday morning.
Since mid-September, 12 Israelis have been killed in Palestinian attacks, mostly stabbings.
Israelis have long decried what amounts to child abuse in a Palestinian society that teaches even its youngest children to hate the Jews and engage in violence against them.
According to the Palestinian health ministry, more than 80 Palestinians have died, a few in clashes with security forces during protests, while others gunned down by security forces and vigilante citizens after allegedly trying to carry out attacks against Israelis.
Hamas took over the Gaza Strip in 2007, whereas the Fatah movement is the Palestinian sovereign in the West Bank territories. Israel accuses Palestinian political and religious leaders of inciting the violence.
“This emergency meeting comes with the unsafe escalation by the Israeli government, the settlers, the Jewish extremist groups, and the Israeli forces in the blessed city of [East al-Quds] Jerusalem”, United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed al-Nahyan, who chaired the meeting, said. The guard shot back at them.
Israeli police said forces foiled another attack near Abu Dis, a West Bank suburb of Jerusalem.
The attacks marked a return to violence in Jerusalem, which has enjoyed a brief lull amid a two-month wave of unrest engulfing the region. The army deployed hundreds of troops in the city and police erected checkpoints at the entrances to Palestinian neighborhoods.
Ahmed Manasra, 13, and his 15-year-old cousin, Hassan, are said to have stabbed and seriously wounded the two in east Jerusalem last month. There were no injuries reported in Israel and no immediate comments from officials in Gaza. Israel Radio said that passengers helped overcome the two youths.
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It sparked a propaganda skirmish, with Palestinian president Mahmud Abbas claiming he had been “executed” while Israel scrambled to release video of him sitting up and eating in a Jerusalem hospital bed.
