The software should create a "virtual" Webcam that replicates the currently installed camera (Microsoft Lifecam Studio). Other applications should be able to access the video stream without conflicts (Powerpoint, Skype and so on).
In addition the software should offer the full control of the camera like color settings, focus on/off, resolution, tilt, pan, rotate, zoom. The software has to have a possibility to cut and resize the image in order to show only the region of interest. Features/controls of other camera should not be supported but the software must be able to show the live stream of other cameras. The selection of the camera must be done in the software. This feature should allow the user to switch between cameras in 3rd party software without changing the camera in the settings of the 3rd party software.
The software should also have standard features like an installer, license key request, short keys, menu tabs, help and so on.