VLCStreamer is an app that can stream video to iOS devices. VLCStreamer is the name of the iOS app that you can get at the App Store. The application that you install on your Mac or Windows computer is called VLCStreamer helper. It functions as a server and it provides access to your video files. From what I could gather from the developer descriptions, VLCStreamer uses VLC to open and convert videos and then it streams them to the iOS device. If VLC cannot open a file, then it won't be able to stream it.
The setup of this streaming solution was relatively easy. Both applications can see each other when connected to the same network, so you can simply select the computer you want to work with from the iOS app.
After that I was able to see all the folders in the directory I selected. However, I couldn't play any of the movies. The app told me VLC couldn't play them, but I knew better than that. I thought that the problem might be that there were folders and not files in that directory, so I manually added a movie, which seemed to work. The movie started processing and I was told I could start playing it. But whenever I tapped on it on the iOS device, nothing would happen. The movie seemed to want to start, but it didn't. I tried with a different file to no avail. And I know VLC plays those just fine.
So, like I always say. Give this a try for yourself and see if it works before jumping to conclusions. In my case, I couldn't get the app to work. But it could just be something in my setup.