HI Bungie,
I think that Fortra has hit the nail on the head. You need to find a driver on the you cam 3 site. Download and install it. Then open ooVoo and see if you can find it here on ooVoo: FILE/TEST WEBCAM/ click on the "select a camera" dropdown. If you see "you cam 3", select it and click Save. If you do not see it, ooVoo does not recognize it.
Best Regards,
ooVoo Dave