I don't think either of those tags are useful.
We want tags to be used consistently to define the subject of questions, IMHO. The usage guidance for record currently says:
Questions about software for recording audio and video with Ubuntu.
Of the 98 questions with this tag, only this one is not about recording audio, video or the desktop, or some user action. So I think there is no use for a tag record with a generic meaning or technical meaning as in a database record (disagreeing with Lorenzo's answer).
All of the questions in recording seem to be, once again, about recording audio, video, or the desktop.
I don't think these three topics are the same. We already have a tag audio-recording which is a subset of recording. Desktop recording seems to me to be a totally distinct topic.
We have two separate tags being used for exactly the same purpose, failing to distinguish between three topics.
My proposal is that we create two new tags, leaving these:
audio-recording video-recording desktop-recording
And re-tag all of the posts (124 in total) appropriately (yes I am very willing to do this myself) to remove both record and recording.