I recorded a software simulation using Version 11.5.1 on Windows.
When I preview or publish the output to video, the only thing that displays is the action on the screen. For example I can see a selection I make on the screen, like choosing from a list, but the rest of the screen is white. I tried publishing to HTML and that gets better results (but I need a video).
If you want to publish to passive video I highly recommend NOT to use Software simulation but the Video Demo. Not only is the quality a lot better (I always set it to 32-bit for both) but he possible issues with FMR slides will not happen. FMR slides in software simulations are original Flash-based. When you publish to HTML5 they will be converted to mp4 but that is not always working properly.
Do you have a lot of FMR-slides? You can also replace them by individual Video Demo slides.