Would slowing down the FPS slow the demo playback? Just wondering if that would help when you do a dump for a series of screenshots.
I tried to download the update... Gave me an url not found.. 
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Lowering the FPS will make the demo go faster, raising it slows the demo down. For instance, if you set FPS to be 1 then the playback will only show one frame for every second in the demo. If your computer can render 20 frames per second then setting FPS to 1 will make your demo run 20 times faster!
The link is broke? But I didn't touch.... oh frak. OK, fixed. Missing a " mark in a previous link.
I updated the Demolauncher with some commands mentioned in a recent post from Poz. Honestly, though, I'm not seeing much use for the stats it gives.
If you leave the FPS blank so the game renders as fast as it can you'll get good max/min/average framerate stats. But you can also just hit the ~ key while the demo is playing and use the showfps command to display FPS as it's going.
If you do have the FPS fixed as Poz mentions, the FPS numbers seem to be bogus. I think the FPS it reports are the frames per second you are getting when the game is forced to render X frames per second in the demo. FPS once removed, if you will. However, the time can be handy. If I play through a demo at 30fps in two minutes, then turn off fancy water effects (via registry), then play through the same demo at 30fps and finish in one minute, that means water effects are a Very Big Deal to my PC. Perhaps it could be used to help decide which combination of effects works best for you?
Also note that the way demos play means the FPS you get in a demo won't be the same as in game. When playing a demo, the game doesn't have to poll the network for packets, handle mouse input, send information to the game servers, or do ragdoll physics. Demo stats should be compared to other demo stats for the same demo.
But then, I only messed with it for a bit. Maybe you folks can pull more meaning from the stats. Anyway, it's there. You can use it. Click the link in my sig then click the link to the demo launcher.
P.S. You must use the Loops option if you are going to check statistics. If you say 4 loops then you have to do 4 loops before the game will give you any statistics. If you exit early then you get no data.