Yes, Lecture Capture Live can stream most .flv video files.
However, the file needs to be prepared correctly for video streaming, some flv video converters do not add the correct 'meta-data' to the flash video file. Without this meta-data, the file cannot be properly streamed, so while it may play back via Lecture Capture Live, performance problems are likely and you will loose the ability to quickly skip forwards to a later part of the video.
If you have problems streaming existing .flv files, these can be processed using a flash meta data injector. We recommend FLVMDI
For conversion of other videos to flash, the Riva FLV encoder
will create a video file with the correct meta-data for streaming.