This one is quite easy. While the WVC54GC was designed primarily for viewing with Windows clients, the video stream can be viewed in Linux. <sarcasm> This is nice because the camera actually runs Linux. </sarcasm>
Simply put, point your video client at http://IP_ADDRESS/img/video.asf. For mplayer, this might look like:
mplayer http://192.168.1.150/img/video.asf