After some investigation I confirm that HQX vfw codec can only accept data in 8 bit format.
About SMPTE VC-5, right now I dont think it is useful. AFAIK the specification is based on cineform, but is not specification of cineform. Even if the reference code works, who will optimize it? There is already jpeg2k which is loose reference of what cineform is. The problem is - it is slow. Unfortunately I am not inspired enough to purchase SMPTE subscription to make a closer look
