I have a program that receives an audio (mono) stream of bits from TCP/IP. I am wondering whether the speech (speech-recognition) API in Mac OS X would be able to do a speec
This comes a bit late perhaps, but I'll chime in anyway.
The speech recognition facilities in OS X (on both the Carbon and Cocoa side of things) are for speech command recognition, which means that they will recognize words (or phrases, commands) that have been loaded into the speech system language model. I've done some stuff with small dictionaries and it works pretty well, but if you want to recognize arbitrary speech things may turn hairier.
Something else to keep in mind is that the functionality that the speech APIs in OS X provide is not one to one. The Carbon stuff provides functionality that has not made it to NSSpeechRecognizer (the docs make some mention of this).
I don't know about Cocoa, but the Carbon Speech Recognition Manager does allow you to specify inputs other than a microphone so a sound stream would work just fine.