Just upgrade rpmfusion-free-release-stable.noarch.rpm in your system. To upgrade run the following command in terminal and type the password for the root, when prompted.
$ su -c 'rpm -Uvh http://download1.rpmfusion.org/free/fedora/rpmfusion-free-release-stable.noarch.rpm'
Then run the following command in terminal and type the password for the user, when prompted.
$ sudo yum install vlc
Thats it. This method works on fedora 11 and above. Enjoy watching movies on vlc!!!!