it's working with rtmpdump try this
Code:
rtmpdump.exe -r "rtmp://s3.tsboard.tv:1936/tvbox" -a "tvbox" -f "WIN 11,2,202,235" -W "http://cdn.tsboard.tv/tvbox/playr.swf" -p "http://www.teamstream.to/showthread.php?5908" --live -y "ard" | "C:\Program Files (x86)\VideoLAN\VLC\vlc.exe" -
i removed -o command because it is for downloading stream with rtmpdump