I HAVE FIXED IT!!!! i have a mikomi amcap and the same thing happened to mine. everytime i clicked on the amcap icon i had a message stating that i 'have no video capture' or something along those lines. Thanks to a friend of mine, I uninstalled the CD and plugged the camera into the USB port (without the software loaded) and then once thye icon appeared 'hardware found' i cancelled all the auto attempts to locate it and went to Control Panel instead. This is what i did...
...Control Panel, Add Hardware.
Once I found the hardware in the list (it should, in theory, be the same for you too) i followed the instructions and installed it without the CD. Since then it works fine! i remembered that this happened to me in the past and i did the same thing to get it working.
I hope this helps whoever is in the same predicament.
HAP BAINS, May 2008