Over at AppleTVBBS, poster mtech figured out how to stream Internet radio using VLC. He installed a copy of VLC and my perlbin plug-in and then created individual “station” files in /Users/frontrow/perlbin along the following lines:

#!/usr/bin/perl
use strict;
use warnings;
my $status = system("/Users/frontrow/VLC.app/Contents/MacOS/VLC http://wnycam.streamguys.com");

According to a follow-up post, you can also create a pls playlist for use with the ATVFiles plug-in.