Is There Any Way To Reduce Lag When Using The GLSL Shaders Mod?

Asking to impove fps without reducing settings is a bit strange, optimisations usually require compromise. If your PC/Laptop doesn't have the hardware for the task there isn't much you can do about it.

If for some reason you haven't already installed optifine, this would be a good first step, after that reduce settings to a level where everything looks as good as it can without ruining framerate.

bear in mind that if you are attempting to record play with something like cam-studio or fraps, your frame rate will reduce significantly again while the recorder is in use

Good luck :)