Thanks so much for the suggestion.
I tried running the stream and then copying the url into MX Player, but it just says "can't play this video."
Since posting yesterday however, the tv stream has been working flawlessly.
The only thing I did since was fooling around installing different flash apks to get the Dolphin browser working. Although I didn't follow through with Dolphin, the Firefox flash stream is perfect.
Coincidentally, PCTV (i guess parent to Hauppauge) released a new firmware last night for their European counterpart. I might give that a try to get the H.264 stream working. The only difference to me now that I got the flash working is that with the H.264 stream I'm able to expand to full screen.