See what the FourCC : AVC1 codec is here. 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 at AVC1 codec.
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. Also the 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. The AVC1 is a video codec that is widely used for video compression and playback. It is part of the H.264/MPEG-4 AVC (Advanced Video Coding) standard, which is one of the most commonly used video compression standards in the world.
The codec being the AVC1 codec. It uses a variety of compression techniques. These include the inter-frame compression and variable block-size motion compensation. This is to reduce the size of video files while maintaining high-quality video playback. This is very similar 3IV2 codec on here. This codec also supports a range of resolutions and frame rates, making it suitable for a wide range of video applications.