They definitely use it; here as a .dll
bb/Data/DownloadManager/ffmpeg.dll
bb/Data/InstallManager/ffmpeg.dll
and also appear to reference it within most bbw*.exe files (INSTR_FFMPEG), though that's using just a crude string search within the .exe files.
PGM could be doing all manner of things with it.
ffmpeg is a very fast video and audio converter that can also grab from a live audio/video source. It can also convert between arbitrary sample rates and resize video on the fly with a high quality polyphase filter.