Josebita has been working on a new module for Bennu that allows you to play Theora videos in 16 and 32 bpp. The great news is that the videos can be manipulated as any regular graph loaded in Bennu!
Here is a demo of how it works: http://vimeo.com/63441778
You can download an axample here: https://www.dropbox.com/s/rs7hx4w9twz9oa6/bennugd-module-theora_preview.tar.bz2 and follow the forum topic here: http://forum.bennugd.org/index.php?topic=3524.0;topicseen
The library is released under BSD license, which required only to mention the credits in a readme file.