|This is a video codec. The name to use at the command line is h264.|
VLC can encode using this codec.
This codec is from the h26x module.
H.264, or Advanced Video Coding (AVC) is a video codec described by MPEG-4 Part 10. It can be used in a wide spectrum of applications, ranging from file storage to real-time streaming in video conferencing systems.
For a technical description read http://www.dspr.com/www/technology/csvt_overview.pdf