This sounds like the problem I have with LightWave3D. It will only output in native Amiga AGA modes or to a Picasso board. I recently replaced my PIV with a Mediator/Voodoo5 and immediately lost the use of LightWave.
Anyway, the answer may be to use a PCI tv card. These will take native PAL video in and direct it to a Voodoo card. Haven't succeeded yet, in fact I've just managed to get BBC1, etc, but it looks promising.
Cheers,
JaX