You may want to try resetting your iCamSource Preferences in case they have gotten into a bad state.
To do that, quit the iCamSource, and then open Finder and press Command+Shift+G or select the Go > Go to Folder... item from the menu bar and paste in ~/Library/Preferences/com.skjm.icamsource.plist and click the Go button.
This will take you to the iCamSource preferences file, which you can move to the trash to delete it. Then, restart your Mac, and re-launch the iCamSource. Once you re-enter your iCamSource info you should hopefully be able to connect.