I've set it up to work almost like that.
Since Google shut down the YouTube subscription RSS feed it's a bit more work.
What I do is first grab the RSS feed for a channel I want to subscribe to.
The URL for a YouTube channel RSS feed is:
http://gdata.youtube.com/feeds/base/users/USER_NAME/uploads
Then I create a new IFTTT recipe and add a feed with the URL of that RSS feed.
And finally, I add new items in that RSS feed to my Pocket.
So I end up watching everything through Pocket which is not too bad since they have apps for web, desktop, and my iPhone and I can mark stuff as read there.
I recently checked and IFTTT doesn't currently have a way to automatically add to YouTube Watch Later, but if they add it at some point then that would let me watch directly in YouTube (although I must say that YouTube's Watch Later management sucks big time, especially on the iPhone).
I am not exactly sure but it depends on how the particular video is embedded from YouTube. You will see videos embedded in various different ways and dimensions.
Some videos are available for viewing at 240p while watched in YouTube but not when you watch the same video through some other site where it is embedded.
There is no such setting which makes the "Watch Later" button appear all the time. Also, as you are seeing the videos in a Google Reader Feed (or some other similar feeds/blogs), you are not even logged in to YouTube at all! Even if such a setting exists how can it be applied when you are not logged in at all?
P.S: Logging into one of the Google Service at a time does not means that you are logged into all the Google Services you use with the Account. Suppose you log into Google+ for four days and never open GMail during this period at all - in the GMail "Previous Login History" (at the end of your GMail Page") there will be no record of you logging in at all.
Best Answer
Looks like it's just a bug.
If I look at all my lists (in a row across the top of you YouTube account) it shows View Later as being empty. If I click on the view list hyperlick below it though,I get the list with the recently added videos.