How to Disable the Recording Indicator in Replay Mod 1.12.2-2.1.3 (and probably other versions, too)
From within your game: -Press the ESCape key
-From the Game Menu, click Mod Options...
-From the Mod list, select "Replay Mod"
-Then click Config
-And now, on the Replay Mod Settings, click "Recording Indicator: ON" to change it to "OFF"
And you're done!
If you change your mind and want to turn it on again later, just follow the same steps and change the indicator: OFF back to ON
If you want visuals, here's a short video tutorial I made for it: