MPlayer
version 1.1 has been ported (6/12/2012) to OS/2. It has support for
Win32 codecs, UniAud, DIVE, SNAP video overlays, and WarpOverlay. There
is a browser plugin included, as well as MEncoder, a simple movie
encoder. Most MPEG/VOB, AVI, Ogg/OGM, VIVO, ASF/WMA/WMV, QT/MOV/MP4,
RealMedia, Matroska, NUT, NuppelVideo, FLI, YUV4MPEG, WebM, and more are
supported.
Source: OS/2 Warp News and Rumors