If you go to "File >> Open File..." and rather than selecting a file to play, where it says "Customize:" (U.S. spelling?) type, like revolunet said:
Then tick the "Stream/Save" tickbox, and click on "Settings...". In the "Stream output" window you want to transcode the video/audio output so that they can be streamed to either a file or over a network.
To do a file, tick "File" and enter a file location and file (with extension). Try streaming the video encapsulated in MP4 file (*.mp4 extension). for the "Video codec" try e.g. mp2v, mp4v, h264. You may also want to scale the video size to e.g. 0.75 or 0.5 if a lot of detail is not needed. The Audio codec can be left blank.
However, one problem I noticed was that when streaming to a file it does not seem to captur in real time, but instead when there are changes on the screen. For that reason you may want to consider another screen recording application such as
CamStudio, where the video could be captured and then streamed using VLC. Still - try VLC out first.
Arite.