The discussions I’ve been having in the nDVR forum indicate that it doesn’t do this, but acts like… a DVR. There must be some way to just have a massive disk buffer that can hold live video incoming and stream it out the other end without record, stop, play!
nDVR does what you say-- is a disk buffer that streams out live HTTP streaming on the other side.
However, if you want to manage a time delay of that DVR-ed stream (based on time zones of incoming clients for example), out the other side, you will have to write some custom code.
See here: Time Shifting Live Streams
and here: Use Wowza nDVR Playlist request with the Wowza Streami
Scott