Downloaded official Windows version of VLC 2.2.0, and projectM 2.1.0. I followed what instructions I could find for installing projectM, and created a visualizations directory underneath c:\program files(x86)\videolan\vlc into which I copied the *.mllk files from projectM. Then I went to advanced settings => Audio =>Visualizations => projectM => projectM preset path and browsed to the visualizations folder where I copied the *.milk files.
When I save the settings, then restart VLC, I still don't see ProjectM under Audio => Visualizations. I went back to advanced settings => Audio =>Visualizations and set "Audio visualizations" first to "Automatic" and then to "libprojectM effect".
The "automatic" setting had no effect and I still didn't see any ProjectM option under audio => Visualizations. If I selected "libprojectM effect" then VLC crashes every time I attempt to play a video. I have to switch back to "automatic" or "disabled" to play a video.
ProjectM used to work in an older version of VLC (2.1.5?)
Windows 7 x64
i5 3570k Ivy Bridge
Nvidia 750 Ti