This looks like a problem that I am having as well. I run Windows 7, Windows Media Centre, Emby Server 184.108.40.206 and ServerWMC 220.127.116.11 b1257. The server has a Hauppauge quad tuner card.
Clients are Chrome, Emby for IOS and Emby for Android TV. All exhibit the same behaviour.
Movies, general video and live TV all stream correctly (brilliantly !). However, on each client an attempt to replay a WMC recorded programs results in this error ...
The problem appears to me to be in ServerWMC. The streams appear in the ServerWMC Status window, but never go away until the app is restarted. Here, I try and replay 'Vera' - it fails as above.
I try and replay 'The Chase' - same failure occurs - and ServerWMC now has 2 hung entries.
This behaviour is new - I used to be able to do this (cant remember version numbers) - although the "no compatible streams" error would previously occur when trying to replay a program that was still recording.
For me EMBY is a brilliant solution for my media needs, but somewhat weakened by this problem.