This doesn't solve your problem but gives an equal or better solution to it:
When I record anything raw from fraps I compress it with a codec called HuffyuV - its a real great lossless codec that somehow manages to get a much smaller file size. I then edit the clips together in Vegas/AE using this format, and render that as an Uncompressed AVI - I then encode it to X264.
This is a big annoyance and it took me about a day to figure out how to work the X264 codec but the end result is awesome - a 10 minute clip, 150mb and virtually uncompressed quality.
Do some google's on HuffyuV, X264 and a program I use to encode called Staxrip.