Additionally, I have implemented a callback function on the libvlc_MediaPlayerTimeChanged event and that only gets call 4 times a second.
Is there anyway to increase this frequency?
You are lucky already. For some media, that function is stuck on returning the "furthest time position played till" after I call a "set position" to rewind.
The libVLC is bugged in this area, definitely. And there doesn't seem to be much interest in fixing the lib. Only lots of activity in improving VLC itself.
Do note that the "get time" ability works just fine within VLC, beneath the libVLC layer. The claim that VLC itself is built around libVLC may no longer hold true, perhaps stopped holding true when VLC went Qt. Not too sure about that guess of mine, though.
I'm looking to debug libVLC at some point quite soon, perhaps within the next 3 months. Let me know if you want to collaborate. Please don't expect me to fix it all by myself for your benefit.
I need all the help I can get.