Hi Lynn,
Welcome to the forums.
Capture doesn't have the Capture menu with time delay feature that Snagit offers.
If you wish you can add a feature request here
http://www.madcapsoftware.com/bugs/submit.aspx. I must admit having some difficulties with Snagit and menus in Windows 7 so I've changed my workflow in Snagit to something to the one I use for Capture.
When I'm doing anything like you describe I capture the whole window. When taking screenshots I configure the client machine with a plain grey or white desktop, turn off aero, and use a light blue colour for windows etc.
I have to do this anyway, as we like to keep an unedited image in case we need to make changes.
I then edit the image using rectangles with no border and the same colour as the window background. The rectangles mask the unwanted content. I then crop the window to size. I hate to admit I then take the .png file, open it in Snagit, and apply the torn edge effect, Capture's version of a torn edge sucks!
HTH