New objects are possible; yes. I'll have to post a new thread when I push them to my SVN as this one went dangerously off topic (since I didn't clarify I was talking about my tools, not general modding, heh).

Works fine here in 3.2.7; I suggest upgrading, there's no reason to have an old version of FRAPS.

I have some code up on my repository:
http://svn.gib.me/public/supermeatboy/

(haven't yet committed new stuff I've worked on)

I've worked on some of the file formats the game uses (tile palettes, images, etc). Is anyone actually interested in being able to create files in these formats for custom levels / etc? (this would be how I made the first Super Tofu Boy level shown in this video in Super Meat Boy).