Well Earl I can't come up with a Good bu!!sh!t Excuse for the LW Media Player, but I can tell you that most of us thats been around for awhile will suggest against using that Joke. It hasn't, It isn't and probably Never will be, High on the Things to do list for the Good Ol' LW Boys.
We almost Always Suggest using an Alternitive Media Player just to keep the masses Happy. See Link Below.

CODECs list for Movies/Audio/ Alternate players / Video help forums/ video-mp3 fixers

VLC Media Player is a nice one to try if you decide to Dump the LW Player.
Hope this Helps.

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I Don't Suffer From Insanity, I Enjoy Every Minute of it

Well, not the answer I secretly hoped for ("click the secret button to turn the LW media player into a perpetuum mobile"), but thanks, Remoc
Gonna stick with VLC, now more than ever.