Currently Being ModeratedFeb 1, 2013 3:01 PM (in response to maxer6)
To split a clip, drag it to your project. Select the frames by dragging so that you have a yellow border around where you want the split to be. Then right-click with in the Yellow Border and choose Split Clip.
If you want to edit out everything except the contents of the yellow border, use Right Click/ Trim To Selection.
If you want to delete the contents within the yellow border, right-click/Delete Selection.
If you are using Image Stabilization, this works by zooming in on the image. If you have multiple clips, the zoom may be different from clip to clip, and this can make it look jumpy. You can manually adjust the zoom, if you want, so that all clips from the same original event clip are zoomed the same amount. Or you could just turn off image stabilization. You do this by clicking on the small gear icon within the project clip to open the inspector to the Clip Inspector.