The HDCP code will prevent you from Recording - you will see the red 'Signal Protected'...
I am curious how you got around that one?
You need to hook up a completly different source, like a DVD or BD Player - Anything that has HDMI Output and see how that works. That test will help pin down where the problem is.
I am having the exact same issue with my Roxio HD and the Xbox one,
The issue does not appear when capturing from my Xbox 360 while using the same HDMI cables as I am using for the Xbox one and it does not appear when using the component cables for the PS3!
Would this be that the card is not fully compatible with the Xbox One?