Blue color shifts to the right after conversion

I recorded some footage in World of Warcraft using Fraps 1680x1050 at 30fps. I then converted it using virtual dub and various codecs (divx, xvid, etc) and I always get the same result after conversion. It looks like all the blue color has been shifted to the right.

Here is a link demonstrating the problem:

http://www.stage6.com/user/brenjaso/video/2214005/blue-color-shift-after-fraps-conversion

If anyone could help solve this problem I’d appreciate it. Thanks.