FourCC : AVC1

The next common codec is the AVC1 which is Apple’s version of the MPEG4 part 10/H.264 standard. You can download the Codec here:  FourCC : AVC1

YES I know you came here as you too could not locate AVC1 in Virtualdub – go figure. In order to fix this you need to have an avc/h.264 decoder. ffdshow is the most common free one. Install FFDShow and that will be that last of the problem. If that does not work then try importing the video with AC3 Decoder.

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