Hdmi out to tv/projector or volume + & - same time to take a screen shot. No record screen app yet I don't think ever as it is also a security risk....
I have a few solutions wich might answer your question. However, these do come with costs as this hardware is not common.
You either mean the same thing the other members have been pointing out, you want to screencast your screen via the HDMI to an external moniter/television and show what you are doing on the device. This can be done with any HDMI to Micro-HDMI cable available at any decent computer hardware store for a few bucks.
Or you mean to record your Playbook. Capturing the actual digital footage. This requires you to have a capture device. There are serveral on the market out there and they are all an investment. They range from cheap to expensive and you are looking for one that records a HDMI signal. I happen to use the Blackmagic Intensity Pro. Ill post two videos below on what my setup looks like:
( This serves as an example of a recording device, meaning that there are more ways; perhaps cheaper ways of doing this. I just happen to have this card in particular because it's serving me in more ways )
You could put the PB in mirror mode, connect it to an HD TV via HDMI, point the rear facing camera at the TV (a stand here would certainly help to stabilize things), open the camera app, start recording video, and then minimize the camera app- it'll keep on recording minimized.
What is the practical application for this function?
Good question. Why not just use Jing on a PC? Because I want to sit in my backyard and work?
I am assuming one could use a screencast via the PB but also put it on the web. You could explain something, do a chalk talk, record it all, and make it available for all...
If that's what you want to do, then just sreencast from your PC and use Spashtop on your PB to control your PC's screen while sitting in your backyard.