You all know that VideoGlide's drivers no longer function since LION, but wait here is a trick ....
Download yourself the Elgato Video Capture software and you are back in business
Works without Videoglide kexts - without any problems.
For VideoGlide type devices like this ION's Video 2 Go:
They are cheap and there are many other products of other
makes, similar to this one.
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Download the software to work with any USB VideoGlide device:
Screen grab of Elgato software in action:
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Quite a few options when done with your video capture:
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This program works really well, as expected from any Elgato product.