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OK, I don't claim to know video editing, this is just by reading some wikis and stuff, in like 10 mins...so I might just be rambling like a crazy person here. I just thought you might like someone to respond to your query, even if it is nonsense...
[/end disclaimer]
Have you tried to edit the High setting codec to use the Max setting?
From the web pages I read, I understood that the codecs differ as
vp6 - lossy
rgb24 - lossless
...since the game already recognize that rgb24 codec, it might be more readily accepted. I suspect changing to totally different codec might need some tweaking in other areas of the game files.
If you're re-encoding and editing and have enough RAM, HDD space, CPU power, etc, have you tried just using the MaxQuality setting? If importing/editing a "lossy" encoded video don't give the best results, and I guess also depends on your editing software's import plugin, how about changing the editing software?