"Can you be be a bit more explicit......"
Just means that I turn it on, fire up FS, and find that it just 'ain't present,' Opa. No framerate showing, it doesn't record - nothing happens........
My advice is, if you want to try either of the new versions, don't load it 'over the top' of your present version. Save your present setup somewhere safe before you try the new version; so you can revert to it if need be.
Possibly ominously, I emailed them about 12 hours ago asking specifically whether, given that they've produced two new versions within less than a month of each other, there's a problem. No answer yet.......even allowing for the time-change between Oz and Europe, that strikes me as strange.
Found a possible alternative - Bandicam. At least the equal of Fraps in terms of performance, and only uses (literally) about one-tenth of the disk space. But I haven't bought it yet - still hope to stick with Fraps if at all possible.
That is strange as the latest (registered) version works just fine for me.
The "game" has to be running (Fraps running first is how I do it) and I was able to take screenshots and record movies with no problems at all.
The two updates are just that - minor bug corrections and a couple of "new" advancements.
The basic program - which I have been using for several years - seems not have changed in any significant way - other than to get better - at least for me.
EDIT ADDED: I forgot to mention I am using it with FS2004 on an XP Operating System.