Check out: http://forum.videolan.org/viewtopic.php?=&p=32506

For the in-a-nutshell version: your best option is to rename your plugin directory (the guy there just added a space at the beginning) then run vlc, then change the plugin directory back to the original name and run it again and it should work.

If not, then you must downgrade. Seems the first option solved the problem for everyone else tho.