> 1) Please let me know the Difference between .IVF & .WEBM formats.
.IVF is a very simple file format used for VP8 video frame data (IVF
Format explained here :
http://wiki.multimedia.cx/index.php?title=IVF)
.WEBM is a Matroska-based container format which can have VP8 video as
well as Vorbis audio and another information.
> 2) Is there any specification for VP8.(Website says The VP8 Data
> Format and Decoding Guide, a work in progress,)
Yes there is.
http://www.webmproject.org/code/specs/
Look for 'Draft Revisions to Date'