The latest update (1.20.20) limits VLC Streamer to Honeycomb devices and above. Unfortunately, the streaming protocol we’re using isn’t supported on earlier devices, and our workaround attempts haven’t been very successful.
It’s possible that we’ll come back to this at a later date, but for now, we want to get the app solid and released.
For all users on pre-Honeycomb devices – thanks for helping out so far, and apologies that we don’t have a better answer for you.