PRE does not work well with native Fraps clips but the following FAQ entry should help you out;
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Also, see this ARTICLE on dealing with video screen-capture output, and editing.
Some refers directly to Camtasia/CamStudio, while some relates to FRAPS. They are similar programs, but with the former, the TechSmith CODEC's do come into play. FRAPS has its own set of CODEC's, so very similar, yet different.
Also, some of the material in that article deal with Premiere Pro, while some deals with Premiere Elements. The reason for the listing of both programs, is that there are differences. The biggest is that PrPro allows one to use a Custom Project Preset, which can be set to match the pixel x pixel dimensions (Aspect Ratio) of the Project's Frame Size, to match the output from the video screen-capture program. As it is capturing from a computer's monitor, the Aspect Ratio will most likely not match traditional video Frame Sizes, so some more work would need to be done, unless one could set their Project's Frame Size to match - PrPro allows this, where PrE does not, so more work and decisions are required in PrE.
Good luck, and what you see with those black bars, is common, when using PrE. The best that one can get is to use a Project Preset (standard Video dimensions), that is close, and then either leave black bars, or adjust the Scale of the FRAPS footage in one, or more, dimensions. Without distortion, that would mean some "cropping" of the pixels from the capture, to allow one to fill all of the black bars.