The SAA7108E chip from Philips supports video capture and playback, for which Asus provides an easy-to-use utility. The Asus codec is a software algorithm for the CPU, though, since the Philips chip's MPEG support is pretty meager.
The codec ASV2 is not a common compression codec, which restricts the playback of compressed videos to the PC they were compressed on. However, there are MPEG codecs available on the web. After reconverting the material, you can send it off.
This snapshot feature proves to be useful. This allows you to create stills of videos or scenes. Without this tool, you would only see pink-colored pictures of overlay videos.