Touchcam N1 audio not functioning with 5.3 for Mac

[Bunyak]

Setup:

2010 Mac Mini with OS X Lion

Touchcam N1 webcam

Skype 5.3 for Mac

Problem:

The correct option for the N1 microphone in Skype preferences is "FV Audio."  After I installed Skype v5.3, this option disappeared and I could not use the microphone.  (Video is fine.)  This option reappeared after I uninstalled and reinstalled v5.3 but did not acknowledge sounds.  The option disappeared again after I rebooted.  

Any ideas on how to regain the microphone?  If not, I'll return to v5.2.

[comqas]

Same problem here, very annoying. I spend a long every day plugging and unplugging the Touchcam (which I only bought because Skype had recommended it) to my Mac Mini. The mike disappears but it sometimes reappears (can't determine under what circumstances). I will downgrade my Skype to 5.2 as soon as I find a way of doing so.

DISSATISFIED!!!