Either in the options or when trying to start a new game
https://s22.postimg.org/jb3ftbw8h/tyr.jpg

For some reason it appears that running and recording with FRAPS, crashes the game in the options or when I am about to start a new game. WTF?

It crashes when I click NEXT on the first character creation screen. :/

EDIT: Turns out, if I leave it for a couple of minutes, it sorts itself out as long as I let it do it's thing. Perhaps try that? According to a dev on steam, it's because it's loading assets.

The game crashed, goes into windowed mode and with the error window I linked to. When I click on the error message the game closes. There is nothing to wait for, in my case.

If I don't start recording till I am inside the character creation screen, the game appears to run ok for now.
If I am recording from the main menu the game crashes either if I "mess around" the options, or after I choose difficulty setting and click next.

As long as the problem remains only at that early part of the game, I am fine, I just hope that there is no further crash while I am recording gameplay later in the game.
I am starting a let's play and I would hate to have it go bad because of whatever this problem is.