FWIW, the reason this software is of such interest to me is because my internet speeds are so slow I cannot use youtube "live." Might be worth a mention in the initial write-up for other such unfortunates as me.
You think you've got it bad. My Mum's PC is so slow that she can't even play youtube videos (P3 900Mhz and Nvidia FX5200 that can't do hardware decoding, so the CPU has to try and do it all). Seeing as she mostly only uses it as a dumb terminal to remote desktop to her account on a decent Windows 7 machine, it's kind of hard to justify buying a new one just so she can play youtube videos