VLS (aka VideoLAN Server) is an outdated streaming solution. More information is available on http://www.videolan.org/vlc/streaming.html.
Unless you really know what you are doing, we advise that you use VLC instead as it is far more powerfull than VLS.
VLS isn't compatible with GCC 4. You will thus need to use GCC 2.9, 3.3 or 3.4 to compile, or submit a patch to fix compilation problems on GCC 4.
Update: There's a vls (S)RPM package available at  that contains a patch to fix compilation problems (the patch says something about gcc 3.4, but it worked for me with gcc 4.0.2)