I ended up here googling for this exact problem, and unfortunately the last versions of YM and SplitCam don't fix it. In fact, I started out with the latest versions.
I also see that I need to explain the problem a little bit because I think most people don't realize YM has TWO
ways of using the webcam, one works flawlessly with SplitCam, the other does not.
The first is one-on-one videochatting. This is configured in the "audio/video setup" wizard and it instantly finds SplitCam, no problem there.
The other one is the webcam broadcast
. This is the culprit. Fortra mistakingly describes this feature as a way to tell your friends you even have a webcam. This is not the case. The whole friends-list configuration is only to configure who gets access to view your broadcast without asking for permission first. By default, everybody has to ask permission, but still it works for everyone. This has absolutely nothing to do with the problem.
The problem is that in the configuration of this broadcast webcam, which for some strange reason is completely separate from the audio/video setup,Splitcam is not
recognized. Indeed you see the aforementioned "Microsoft WDM ImageCapture", but this only works when SplitCam isn't running. And if it works, SplitCam will report the camera is in use. In other words, this ImageCapture device accesses the webcam directly and not SplitCam.
I don't know why the webcam broadcaster lists different devices, and I also don't know if this ImageCapture thing is supposed to get its feed from SplitCam instead of the physical camera, but in any case it does not, and it is the only device available for selection. So something still needs to be fixed here.
I hope this clears things up.