[Bounder!]

I had exactly this problem, right after the windows update this week. I did a system restore to take me back before the windows update and it fixed my problem. Just to note - I had no problem running CLoD after the windows update, just with fraps recording. I tried uninstalling fraps and reinstalling, I tried checking file integrity of CLoD - neither fixed the issue. It was only fixed after I used my system restore point to go back before the recent windows update. Also, the windows update stopped sweetfx working for me in CLoD - again reinstalling sweetfx, checking file integrity of CLoD did nothing, only rolling back fixed these issues.

EDIT: I didn't try recording on the menu screen, only in game but system restore certainly fixed my fraps - might be worth a try?