That is known and “correct” behavior for right now, since livstreamer decided not to follow hosting redirects. I hope to correct the channel the extension gives to livestreamer by the next version, however since I don’t have a complete plan on how to solve it I can’t promise it yet. See also https://github.com/freaktechnik/justintv-stream-notifications/issues/118.
My personal work-around is to search the channel in the explore tab and open it with livestreamer from there.
Thanks for the report!