Looking very good. I've used this for THAC and it worked without a hitch. One issue I did have was that at one point I forgot to switch to a new folder, and accidentally overwrote (overwrited?) images I had previously taken for an earlier session. Part of that is because you can't easily start a new project (which in my case is a new shot/take) without rebooting the program. After starting up the software again, the software doesn't load the captured frames into the project or check whether it's overwriting an already captured frame.
I understand that the software is under development, but Still, it might be good to implement some sort of overwrite protection, maybe like a confirmation popup like "are you sure you want to overwrite this previously taken image?"
I really like that I'm able to actually choose the maximum resolution my webcam supports (1600x1200). Other software I've tried could only do 1600x900 or higher resolutions that my webcam doesn't even support. That alone makes it worthwhile for me.
EDIT: To clarify, this feedback is based on 0.8.0, not the latest release.