Kaltura”s Flash / Flex video editor mimicks a full-featured video editor like iMovie. The company”s product allows its users to add video to a collaboratively created work. The editor features nearly all of the features you would expect from a video editor, but delivers the entire interface via the web. Features include organizing clips from a media library, adding titles, transitions, and special effects, and adding and controlling soundtrack and volume.

1. Video editor demo with clips loaded
2. Sound edits and transitions added

http://kaltura.com/index.php/edit?kshow_id=2