This is such an embarrassment for Riot. For as something complex (it is rather complex, from an outsider's standpoint, who doesn't probably have LoL's sourcecode and all that jazz) as making replays that don't take up 100+ MB on your computer and require fraps, a third party has done it, and done it on their own time. For free.
If an outside person can make replays happen, why after all this time, are replays still not available officially? Riot, you have to understand why replays are important to the growth of LoL, yet you don't seem to care? I'm stumped really. And amazed. Congrats on the creator, I'm sure making this program had lots of work involved.