Unfortunately I cannot know what is your "LIVE" streaming. Is it really some live stream in real time or you mean something else.
Anyway - live broadcasting can be very different, may require different flash extra programming, it just requires tests and coding accordingly to what live stream requirement and characteristic is.
AnyAd plugin doesn't depend on flash programming a lot. However apart of showing before stream starts - it's feature is to show on each pause event. And pause event for live broacasting is something different, depends on what such stream is. If such pause event works correctly for live stream (resume stream), it will also work correctly for anyad.
Preroll video or image is already available feature, can be set for any type of streaming as it's separate playlist item, set as on Nuevolab playlist tutorial example:
http://www.nuevolab.com/playlistUnfortunately more advanced flash player use requires really good knowledge of what is flash streaming, flash player flashvars, sometimes also altering flash source code and of course direct access to streams and testing environment+server.
That's why most often people use ready solutions offered by streaming services (if available).
Having own live streaming player, with such custom features like mentioned own ads is not possible then, and hiring a programmer to setup it all can be pretty expensive, as it's completely custom coding, additionally requires really good programmig experience in different environment (html,flash,js,php)