Hello Jill-Connie Lorentsen,
Thank you for your question. Unfortunately it goes outside the scope of our support, but hopefully someone from the Telerik community will help you out further.
RadPlayer is a simple wrapper of windows media player API and is created with the sole purpose of demonstrating the UI of our controls. You can find the functionality of both methods in our source code which you can download from your account, namely the first one is loading the clip from file and the latter one from a resource in you assembly. I think that you can use memory streams for media content. Please research this in MSDN.
the Telerik team