If you are on ICS, the reason for it not working is almost definitely the lack of HW codecs. It is the same reason that we cannot get the video camera or Google Chrome to work. Unfortunately, there is no solution except to switch ROMs or to wait for a dev to get the HW codecs working (don't hold your breath).
Droid 3 with Gummy 1.2.0 (Unthemed) [Retired]
Galaxy Nexus with CNA 3.6.6 and Franco's Kernel [Retired]
Galaxy S4 with KitKang 01-22-14 and Stock Kernel