Swap clips

I f I understand correctly you are looking for a shortcut to do kind of like Control-T does for text - that one I find quite useful!

I am not aware of such shortcut, but all you have to do is drag one of the clips to the desired place. The magnetic timeline makes it so easy.

Or you could do it with three keys or so (Command-X to cut, ‘ to move to the next edit point, Command-V to paste)

Much as I am a keyboard guy, this is one case where dragging is so much easier.

And if you have connected clips and want them to stay where they are and not move, just press and hold ` while dragging to temporarily disable the clip connections.

You can still do it, without losing the transitions.

Say you have Clip A and Clip B, just like in your screenshot:

1) Drag Clip A so that it lands just after the transition in the middle:

2) Drag Clip B so that it lands in between the two transitions:

3) Hmmmmm... there is no step 3 😎