Just an update on this query, should anyone else have the same issue. I was scouring through all the settings again and noticed that the video settings also has a 'H264 highprofile', and decided to try that as well. After all, what's the worst that can happen! Turns out that I can view those...
My nephew bought an IP camera a few months back from either eBay or Amazon. He couldn't get it to work, but since he only has a wi-fi router and uses a mobile for Internet access, that's not surprising. Anyway, he dropped it off with me to see if I could have a look at it.
First issue with it...