Video Player loading problem

[COLOR=black]I’ve made a custom video player and have been using it to play external flvs (as if there’s any other effective way). However, when I or other people try to watch the streaming video, it takes forever to load.

What could be the problem? Is it something to do with the server, the video or with the Flash itself?

I have the FLA file attached. If you publish it, it should play one of LegendZero.com’s newest videos (most likely a Halo machinima, but that’s all beside the point).

Thank you in advance for any help.[/COLOR]

Download the zipped file here