Here is a quick demo video using ffmpegencoder and vitamio as mentioned in my earlier post.
I am using TeamViewer to access my device from which I am streaming using ffmpeg and then I show the video with Vitamio using the emulator.
The video on the emulator has some artifacts due to the fact that my PC is using nearly all my RAM and also I didn't center the video in Vitamio.
It works and the video is shown perfectly using a real device.
Edit: By the way, the usage of TeamViewer was only to let me make a screencast and make a demo so I could send it up to YouTube. TeamViewer is not necessary for this solution.
This solution works fine in a LAN. To use it outside of a LAN, I think you will either need to use a VPN (a private tunnel) or set up some port forwarding on your rooter. However, you could use a server in the middle. There might be other networking solutions too.