You can use tools like FRAPS to record video from Morphyre Pro, however Morphyre itself contains a method to record visuals directly, in high resolutions and non-realtime if required.
Morphyre itself only outputs image data - it doesn't create videos... So to create videos you'll need MEncoder... The standard download link for MPlayer doesn't include MEncoder, so you will need to download it from here instead and extract the archive into C:\mplayer.
This method involves writing the raw uncompressed video to a file, and then converting that file to a Video. As it doesn't have an intermediate step it is the best quality, but can quickly use up a lot of hard disk space...
Open a command prompt, and type:
cd "c:\program files\morphyrepro"
r5 -screenshots 300 -fakesound -fps 30 -size 800 480 -rawout data.rgba
(This uses 460mb of disk space to record only 10 seconds...)
You can then convert the raw video file to a proper video using the following command:
c:\mplayer\mencoder.exe data.rgba -demuxer rawvideo -rawvideo w=800:h=480:fps=30:format=rgba -ovc lavc -lavcopts vcodec=msmpeg4v2:vbitrate=4000 -vf flip -o foo.avi
and then delete the raw video file...
For more information on different video encoding formats, please see the MPlayer website.
Morphyre has some other command-line options, which you can view by typing 'r5 --help'. For example, to record just one scene, append '-id scene_id' to the command-line for Morphyre, for example:
r5 -screenshots 300 -fakesound -fps 30 -size 800 480 -rawout data.rgba -id bigfoot_scheme0
Or you can even apply effects to the video as it is rendered by specifying the scene ID of the overlays you want. For example:
r5 -screenshots 300 -fakesound -fps 30 -size 800 480 -rawout data.rgba -renderlist "bigfoot_scheme0,Motion Blur"
Below is a batch file that automates the process, just copy and paste it into a text file called C:\Program Files\MorphyrePro\create_video.bat - you can then create a video of a certain scene just by typing create_video scene_id