How to Capture the Screen Using VLC for ScreenCasting | TechMag
I tried out the method shown in this article, but it put quite a load on my Powerbook. The load reached something like 12 on the poor machine. But it can be done.
VLC has to be run with command line parameters for this to work. To get this to work I had to go to my applications folder (cd /Applications), and then "cd VLC.app/Contents/MacOS/" and then run the VLC executable with the command line parameters given in the article (./VLC screen://).
I messed up though, I must have chosen the wrong codec, since the output file created was corrupt and unplayable. I'll try again later.