Fraps for Mac

Easily Record desktop on Mac
Capture video at high frame rate
Live video capturing
Take screenshots while recording
Save video with high quality
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Buy Screen Capture for Mac ($29.95)
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User review:

Jimmy White
This is a great FRAPS for Mac alternative, It will capture anything on the screen. You can choose from many formats on how to save the file. AVI, MP4, MPEG2 to name a few. I am very happy with it.