Dont know if this helps you, but if you get a working copy of mplayer, here is my mplayer opie-sh script.
#!/bin/sh
#Turn off Light&Power Settings
qcop QPE/System 'setScreenSaverMode(int)' 2
qcop QPE/System 'setScreenSaverIntervals(int,int,int)' 0 0 0
#Set Config Files
test -e /root/Settings/opie-sh-mplayer.conf || echo "/mnt/cf/videos" > /root/Settings/opie-sh-mplayer.conf
#Choose path to Media
DIR=`opie-sh -i -l -t "Dir" -E -F /root/Settings/opie-sh-mplayer.conf -g`
if [ "$DIR" = "" ]; then exit; fi
echo $DIR > /root/Settings/opie-sh-mplayer.conf
#Choose Media
VIDEO=`cd $DIR; ls -1 | opie-sh -g -i -l -t "Mplayer" -f`
if [ "$VIDEO" = "" ]; then exit; fi
ARGS=`opie-sh -i -e -t "Args" -g`
#Launch Mplayer
mplayer -framedrop $ARGS "$DIR/$VIDEO"
#Restore Light&Power Settings
qcop QPE/System 'setScreenSaverIntervals(int,int,int)' -1 -1 -1
qcop QPE/System 'setScreenSaverMode(int)' 100
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