I'm not aware of any way to do this out of the box with ProcessBook.
We do have KB00582 - Image animation in PI ProcessBook, which describes how to use the Microsoft Animations ActiveX Control to play avi files, but that not the control you're looking for.
I would recommend looking into other ActiveX controls. For example, Windows Media Player looks like they have an ActiveX control. I haven't used it so I can't say it will do what you're looking for, but an ActiveX control is the most likely way you'll have to go.