Livestream works with "livetest" only

This is the actionscript code I am using, this is from a prewritten player, not made by me.

I am sure you will find what you need somewhere here, I am not good at coding.

class player extends MovieClip {
    var video_playback:Video;
    var net_nc:NetConnection;
    var net_ns:NetStream;
    var sound:Sound;
    //variables
    var playStatus = false;
    var videoBytesLoaded;
    var videoBytesTotal;
    var videoTotalTime;
    var videoTimePlayed;
    var videoTotalTimeText;
    var videoTimePlayedText;
    var playState = true;
    var FLVuration;
    var file;
    var playComplete = false;
    static var FLVduration;
    static var replay = false;
    var vol = 50;
    //
    var bg_mc:MovieClip;
    var snd:MovieClip;
    static var conn;
    static var con = "Connecting";
    var cont;
    var connect = false;
    //
    //
    function player() {
        net_nc = new NetConnection();
        net_nc.connect("rtmp://localhost/live/livestream"); // <--- This one is right
        net_ns = new NetStream(net_nc);
        video_playback.smoothing = true;
        video_playback.attachVideo(net_ns);
        net_ns.setBufferTime(1);
        snd.attachAudio(net_ns);
        sound = new Sound(snd);
        sound.setVolume(vol);
        statusnet();
    }
    function onEnterFrame() {
        videoBytesTotal = net_ns.bytesTotal;
        videoBytesLoaded = net_ns.bytesLoaded;
        videoTimePlayed = net_ns.time;
        videoTotalTime = FLVduration;
        playComplete = replay;
        connect = conn;
        //
        var minutes2:Number = Math.floor(videoTimePlayed/60);
        var seconds2 = Math.floor(videoTimePlayed%60);
        if (seconds2<10) {
            seconds2 = "0"+seconds2;
        }
        videoTimePlayedText = minutes2+":"+seconds2;
        //
        var minutes = Math.floor(videoTotalTime/60);
        var seconds = Math.floor(videoTotalTime%60);
        if (isNaN(minutes)) {
            minutes = 0;
            seconds = 0;
        }
        if (seconds<10) {
            seconds = "0"+seconds;
        }
        videoTotalTimeText = minutes+":"+seconds;
        //
        if (replay) {
            playStatus = false;
            net_ns.seek(0);
            pauseVideo();
            bg_mc._visible = true;
        }
        cont = con;
        //trace(videoTotalTime);                 
    }
    function statusnet() {
        net_nc.onStatus = function(info) {
            if (info.code == "NetConnection.Connect.Success") {
                //connect_mc.gotoAndStop(2);
                conn = true;
                con = "Server Connection success";
            }
            if (info.code == "NetConnection.Connect.Rejected") {
                con = "Server Connection Closed..Please refresh page";
                replay = true;
                conn = false;
            }
            if (info.code == "NetConnection.Connect.Closed") {
                con = "Server Connection Closed..Please refresh page";
                replay = true;
                conn = false;
            }
            trace(info.code);
        };
        net_ns.onStatus = function(infoObject:Object) {
            trace(infoObject.code);
            //con = infoObject.code;
            if (infoObject.code == "NetStream.Seek.Notify") {
                playStatus = true;
                /*bg_mc._visible = false;*/
            }
            if (infoObject.code == "NetStream.Play.InsufficientBW") {
                con = "Poor Bandwidth";
                net_ns.setBufferTime(1);
            }
            if (infoObject.code == "NetStream.Play.Start") {
                con = "Playing";
            }
            if (infoObject.code == "NetStream.Buffer.Full") {
                con = "Stream Playing";
                net_ns.setBufferTime(2);
            }
            if (infoObject.code == "NetStream.Buffer.Empty") {
                con = "Buffering";
                net_ns.setBufferTime(1);
            }
            if (infoObject.code == "NetStream.Play.Failed") {
                con = "Stream Connection failed";
            }

        };
        net_ns.onMetaData = function(infoObject:Object) {
            FLVduration = infoObject["duration"];
        };
    }
    function playVideo() {
        bg_mc._visible = false;
        replay = false;
        if (playState) {
            net_ns.play("livestream");  // <--- This one is right
            playState = false;
        }
        net_ns.pause(false);
        playStatus = true;
    }
    function pauseVideo() {
        net_ns.pause(true);
        playStatus = false;
    }
    function seekVideo(val:Number) {
        if (val<=videoTotalTime) {
            net_ns.seek(val);
        }
    }
    function setSound(val) {

        if (val>100) {
            val = 100;
        }
        vol = val;
        sound.setVolume(vol);
    }
}

I have no idea why I get the security error on this one, its a livestream and should have no problem displaying this stream.