Aquaria works pretty much perfectly on my computer.
I recorded a 1024x768 Aquaria session with all effects enabled to prove it:
http://www.youtube.com/watch?v=lJph0HceV0oYouTube messed up the quality, but you can still see how smooth it runs,
even while recording with glc (the excellent openGL/alsa capturing system for Linux - I'd say it's better than FRAPS

)
Software details:
And yes, I'm running Compiz while recording.
Hardware: Intel Core Duo 1.83Ghz laptop with NVidia Geforce Go 7600 graphics card and 1 GB ram