Brian Matherly, one of the developers of the MLT video processing framework started working on an NDVI postprocessing plugin which will make it very easy to create NDVI composite videos from infrablue or other IR/VIS footage.
There already is a working proof of concept at Github.
What is needed now is test footage. If you own a camera which is modified for recording IR footage, e.g. with an Infrablue or similar filter (e.g. the modified Mobius from Publiclab.org) , please post links to that footage in the comments! The more different footage the developers get, the easier the developing of the plugin will be.