Yes such a link works, no problem.
BUT
[ol]
[li]If you move your site to https the link probably does not work as http images will not be shown on a https website[/li]
[li]All requests for every visitor will go to the local camera, some camera’s do not allow more then 1 image connection[/li][/ol]
There is a small script which can fetch the image from your camera, cache / store it on your webserver.
This will act as a gateway between camera and any number of visitors.
Described and downloadable here: webcam only http -> need https
Wim