Looking through the logs, it's actually fraps that is crashing Universe Sandbox, and not the other way around. It's causing an access violation and Unity is unable to recover, and shuts down the game.
Unity Player [version: Unity 4.5.3f3_fca41a4fabea]
fraps64.dll caused an Access Violation (0xc0000005)
in module fraps64.dll at 0033:63581d3b.
You might want to see if there's an updated version of Fraps available, or you can try to run the 32-bit executable of US², which will use the more stable 32-bit version of Fraps.
I've tested with other recording software, and they work fine with US². (Using Bandi-cam for instance)