I have a goal of building the worlds simplest screen recording software and I've been slowly noodling around on the project for the last couple of months (I mean really slowly). In previous posts I had got the screen recording and a voice overlay by futzing about with the streams from all the input sources. One area of frustration though was that I could not work out how to get the audio from the desktop and overlay the audio from the speaker.
You should be able to create and edit videos using just the web in the browser. It should be possible to provide a user-interface akin to Screenflow that lets you create an output video that combines multiple videos, images, and audio into one video that can be uploaded to services like YouTube. Following on from the my previous post that briefly describes the requirements of the video editor, in this post I just wanted to quickly show in a screencast how I built the web cam recorder, and also how how to build a screencast recorder :)