Hmmm... thought I's posted in here about CAMSTUDIO
"CamStudio is able to record all screen and audio activity on your computer and create industry-standard AVI video files and using its built-in SWF Producer can turn those AVIs into lean, mean, bandwidth-friendly Streaming Flash videos (SWFs) "
Allows for a lot of tweaking, although with the version I have (not the latest) it doesnt take gradiation in images very well and leaves some mean sized files regardless of what I do (some codec setups I cant get to work). But if you're willing to piddle about it could do what you need!
Example from a few years ago: https://www.dropbox.com/s/jwoporvqbpvfa4w/EX11.wmv
(excuse the low quality - was exported with mobile devices in mind, but you can see the gradiation problems nontheless - i'm actually looking for something that could do a better job if anyone knows of anything)