I have been using desktop recording applications on the Linux desktop with varied degrees of success for a few years now. So yes folks, there are a number of great desktop recording applications available on the Linux desktop.
My own personal favorite is definitely GTK-recordmydesktop, but other great applications include.
xvidcap – Works a lot like GTK-recordmydesktop, providing full screen or selective desktop captures. Also works pretty well with the audio capture as well.
gtk-recordmydesktop – As I mentioned above, I love this application. And thanks to the option of using PulseAudio, usage is easier than ever. Just add the word pulse in the sound device area.
Istanbul – Operates much like the above software. Video casting and audio are synced well, while also providing you with a great means of recording your desktop.
There are likely other similar applications as well, but these are the best of the lot in my own experience. I suggest starting with gtk-recordmydesktop and moving on from there.