I only have 27GB of Mem in my comp (not alot but gets me by) and with all the stuff i have on it I have 6GB freeSpace.
Yellow: 50-63
Red : 30-18-7
Its not necessarily Fraps but the sim when fraps is recoding.
Thanks Kermit.
What is not normal is your "Red: 30-18-7". Your recording frame rate should not be changing during a recording.
What have you set your recording frame rate to?

Select the "30 fps" option.
Select the "Half-size" option.
With these 2 options selected, you should be able to record just fine.
Your framerate during recording should be 30fps, which is normal, which is half of your normal frame rate.
It is important to let me know if this does or does not work.