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CamStudio won't start or won't save settings - Corrupt config files in CamStudio and how to fix
Here is the fix!
Some corrupt or old config files may be hanging around. First, you'll have to make hidden folders visible - from the top-left of any window, select Organize and then "Folder and Search Options" - in the View tab select "Show hidden files, folders, and drives".
Now go into your folder having your username as its name (often C:\users\yourname\), open the AppData folder and then the "Roaming" folder - scroll to the bottom and see if you have any CamStudio items in there. Delete them all (you'll have to re-do your settings) That usually works.
You can simply delete the CamStudio.cfg one to reset the buttons, I believe, but you may need to get rid of camdata.ini as well.