The VideoLAN Forums

There are many things that we would like to improve in VLC, but that we don't, because we simply don't have enough time. That's why we are currently looking for some help.
We have identified several small projects that prospective developers could work on. Knowledge of C and/or C++ programming will certainly be useful, but you don't need to be an expert, nor a video expert. Existing VLC developers will be able to help you on these projects.
You can find the list and some instructions at http://wiki.videolan.org/Mini_Projects.
Don't hesitate to join us on IRC on the mailing-lists.
We are waiting for you!

if i polish up my c++ skills i am hoping to join the bandwagon and make this awesome software better

Notice http://wiki.videolan.org/Mini_Projects likely hasn't been updated for a long time. (Also because of a lack of volunteers keeping the wiki up to date!)

You can see all currently open tickets, but this overview includes all open issues, including ones which do require expertise.
If you wish to help, please contact the developers on IRC (scroll down to help and support) or the mailing list first.

For an overview of everything you might want to know about contributing go here.