Just downloaded the registered version of Fraps and stared an instant action 1v1 (merciless) game on a 1v1 map. FleetOps crashed. Free Fraps had no problem. (if Fraps is even a factor).
Closing Fraps allowed FleetOps to start. Then starting Fraps after the game had loaded seems to work.
the way fleet operations hooks in a similar way as fraps does, which fraps doesn't take into account. so some problems can occour when fraps loads with fleet operations. i am still working on that issue