Hi All
Following this link (http://forum.lemaker.org/thread-10992-1-1-.html) I got gstreamer 1.4 playing hardware accelerated video on standard olimex image. Nothing very special, but for those who are using openframeworks: in upcoming 0.9 there are a couple of enhancements regarding gstreamer. Working on OF github clone I got the example videoPlayer working with gstreamer + vaapi + vdpau, but still using quite high CPU. But it's promising..
Also check http://forum.openframeworks.cc/t/videoplayback-with-gstreamer-and-vaapi/18448