I have implemented audio streaming using the Walkie Talkie example to a PC server using the wavestream module but the problem is my PC server is just a single connection only. I would like to know if it is possible to modify the Walkie Talkie client example so that VLC can access the stream using a URL. This will be similar to the CCTV url example.
You are confusing different things. The MJPEG server is implemented in such way that it supported multiple clients. It is not related to a URL. You should do the same thing in your solution if you want to support multiple clients.