Camcorder piracy refers to the process of using a camcorder to record a screen that displays copyrighted content. In contrast to the previous works that aimed at detecting the occurrence of camcorder piracy, this paper conducts an in-depth study of the luminance flicker that is naturally present in camcorded videos due to the interplay between a liquid-crystal-display (LCD) screen and a camcorder. We first model the flicker signal and show that its parameters are tied to such internal characteristics of the pirate devices as the back-light frequency of the LCD screen and the read-out time of the camcorder. We then present new estimation techniques to recover these hidden parameters directly from camcorded videos and demonstrate that such forensic cues could provide intelligence on the pirate devices. We also discuss how to recover the shape of the low-power flicker signal itself and show that it could be used to infer which back-light technology employed in the pirate LCD screen.