no, there is no support for streaming built into the VLC app and I don't think there will be. There was no mention of it in the code, so I think that the VLC app is simply intended to be for local files only and be able to handle video playback of most file types and codecs. So far, I haven't been too impressed with it. It was a lot of work to get it up and running only to find that it lags far behind competitors like Mobo player and Rock player. Then again, it's still an alpha software so I'm sure file support will come.
LGP509-T Optimus One
Samsung T839 Sidekick 4G
LGE960 Nexus 4
Cyanogenmod 10.1 Nightlies 384MHz/1512MHz/ONDEMAND -150Mv Quadrant = 4996
ClockWorkMod Recovery 184.108.40.206 Touch