The lack of support in this thread is difficult to see. We opted for "the ultimate capturing software" and "most advanced recording software" and when we have issues, we get a half hearted response with no follow up. I am a paying customer. Thankfully I was able to resolve my own issue by continuing...
In-game sounds record but chat no longer records. I primarily play iRacing and all sound settings are set to Corsair audio -- same as system audio settings and Action!. The previous update before 1.26 broke the audio.