Updated vlc packages (2.1.6) are an upgrade with some fixes. Some of the problems fixed upstream were already fixed by a previous Mageia update to VLC (see the link to MGASA-2015-0053).
VLC versions before 2.1.5 contain a vulnerability in the transcode module that may allow a corrupted stream to overflow buffers on the heap. With a non-malicious input, this could lead to heap corruption and a crash. However, under the right circumstances, a malicious attacker could potentially use this vulnerability to hijack program execution, and on some platforms, execute arbitrary code (CVE-2014-6440)