When using H.264 in a point to point session (bidirectional) some kind of media negotiation has to be performed. But, could the two streams have different characteristics, such as different profiles/levels etc.? After all, encoder and decoder are independent and it makes sense for them to be able to deal with different parameter sets.
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The h.264 metadata can be found in-band or out of band.
if you are using rtsp to receive the stream you can find the data in the rtsp negotiation (see http://www.ietf.org/rfc/rfc2326.txt).
You also need to parse the rtp packets and see if there is some more data there (see “How to fragment H264 Packets in RTP compliant with RFC3984”.