If it is at-all possible, I think they should consider switching to Flowplayer.
Man, when I set up my streaming server at home recently... It was SO MUCH EASIER to get Flowplayer to behave nicely in the ways that are important to me, and the code seems cleaner and their licensing seems more friendly (though I don't know at all how it applies to application developers, it is website developer friendly for sure).
Just one example: I still haven't figured out how to get JWPlayer to handle the nice iOS-compatible stream that Wowza is spitting out (not that I've spent a huge amount of time trying) without just hacking around it in JavaScript. With FlowPlayer, in around 15% of the time looking for instructions beforehand, it took one simple JavaScript plugin download, three lines plus eight characters added to my HTML file, and it was done.
That, and I think the player controls look nicer by default.