Originally Posted by kmart

Try running the "old" windows media player (mplayer2) to play the audio stream and use the new one (wmplayer) for the video stream. Click Start->Run..., type "mplayer2", hit Enter. The click File->Open... and paste in the URL for the audio stream. Then launch the new windows media player as usual (or you can go Start->Run... and run wmplayer). The "old" and "new" media player are the same under the hood so this should work.

wmplayer does not allow multiple instances, but mplayer2 does, so you could also run mplayer2 twice.