Memory random access memory, or RAM holds data that the computer is currently working with. Disk space which is what GB would be is how much space you have for long term storage of data. If computers run out of physical memory they can use hard disk space as "virtual memory", but there are limits to what they can do with that especially if you are working with 32 bit older software, which is what Camtasia 7 would be. There are limits to how much actual RAM a 32 bit program can access. The message was therefore probably telling you that you were out of RAM, not disk space.
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