Horde doesn't natively support video files, but I think someone was making an extension that added support for the theora video codec?
The PS3 doesn't use standard OpenGL... On the PS3 you have a choice between LibGCM and PSGL (which is based on GLES 1.1 with lots of NVidia extensions), which means the Horde3D back-end (the part of Horde that deals with GL) would have to be ported to PSGL (or to LibGCM).
Ignoring this difference though, you should never just recompile *any* PC middleware for a console and expect to get decent performance out of it -- a console port should always be done with care to target the new hardware appropriately
