Hello
I have a similar problem as others have seen in the past. I have Fraps 3.5.2 and VLC 2.0.2 installed on a win7 x64 computer. Both appear to be the latest version. I used to record in fraps and play in VLC. Now, I can only see the resultant videos in windows media player. I read something about installing virtualdub to convert prior to using VLC, but that seems awkward. I'm sure its just something I need to do in VLC since it used to work. I looked in VLC advanced settings under video codecs but I did not see a way to import codecs.
If I open the fraps video in vlc, it has a blank video. Here are the messages in vlc.
main error: video output creation failed
main error: failed to create video output
Here is the Modules Tree output for input:
decoder avcodec
demux avi
John