As of version 1.2.1.12, Call of Duty: Online assets have been recompressed/packed into a 'new' archive system called IFS.
This tool allows you to extract all the files from such archives.
Just drag the *.ifs files ontop of the 'ifs-tool.exe' (make sure you have Tencent's IFS2.dll as well)
It should extract all the files from the archives then.