If a RadPanelItem contains an asp:HyperLink, clicking on the hyperlink is incorrectly recorded as:
RadPanelBarItem('RadPanelBar1'): 'Root RadPanelItem1' action -> 'Collapse'
It should have been recorded as a click on the hyperlink.
The workaround is to record a mouse action against the hyperlink: http://screencast.com/t/aoAXQcGclU