There is no "Save as", only "Save Project as" (which saves merely the links to the movie file, and the compilation) and "Save Movie File" (which actually renders the movie and saves it). Unfortunately, it won't render and the 'Save Project As' button has only one saving option, which is the Moviemaker Project File.
I'm stumped

It's kinda hard to do another way, since I already made it, and my other PC would require emailing
over 1 GB of uncompressed Fraps recording.

I also can't get my head around the RAM eating Sloth that is Adobe Premiere Pro.
