If you move the mouse inside a clip a 
icon will appear.
Pressing the icon pops up a context menu for the clip. You can also
get the same menu by right-clicking or ctrl-clicking anywhere on the
clip. The menu contains the following options:
The clip inspector lets you set the play-out speed of the clip, either as a percentage or as a target duration. You can also lock the clip to its position on the timeline.
Change the name of the clip shown in the timeline.
The clip is cut from the timeline.
The clip is copied for later pasting.
Split the clip in two at the current scrubber position.
Any audio track in the clip is moved out into a clip of its own.
The clip is split into three. The frame at the scrubber position will be extended in time (by default 2 seconds). The rest of the clip is moved to the right by the same amount. You can then drag on the ends of the clips to adjust their lengths.
The default transition is added to the beginning of the selected clips. Apply again to remove the transition.
The default transition is added to the end of the selected clips. Apply again to remove the transition.
