This is for everyone who wants to know how to 'fix' the Voice Memo problem, and not addressed at anyone in particular. *Please read completely before trying anything listed here.*
Please remember that if you try the following, check for correct function after every step and *+report back if something worked+*. In other words, try step one, check to see if it worked. If it did, let us know so we can get to the bottom of this. If not, go on to step two, and check.
Steps to try if you have a Mac :
1. Restart your Mac. Yes, it may be just that simple.
2. Reset the PRAM :
http://support.apple.com/kb/ht1379
3. Organize your files. From iTunes 10 : File -> Library -> Organize Library
4. Try manually synching by using the File -> Sync command, or just clicking on the Sync button in the lower right of the iTunes 10 window.
5. Run Software Update. Install any updates your Mac may need.
6. Uninstall and reinstall iTunes 10.
7. Back-up and Restore your iPhone. Make sure you know what you are doing before you even think of using this step. This will completely nuke all data on your iPhone/iPod. *Your data will be gone forever if you do not have a valid back-up in place before you Restore.*
This is what I can think of off the top of my head to completely reset your Mac/iPhone-iPod/iTunes. It's also time-consuming and some steps are risky if you care about your data. Please make sure you are 100% confident you have a back-up of your iPhone/iPod before doing anything to your iPhone/iPod.
*Remember : report back if you find something that works!*