In order to fix the problem, go to Start > Control Panel > Uninstall a program, select the ArcSoft TotalMedia HDCam software form the list and press Uninstall. Reboot the computer, run CCleaner to make sure that there are no leftover registry keys in your system and install the software again. If you still can't save the video, try using another video editor from Software Informer database.
Note: You can try also saving the video in ArcSoft TotalMedia HDCam default location by pressing Ctrl + S key combination. After that, you can move the file using Cut and Paste.