Cyber Cynic: "Google may be open-sourcing the VP8 video codec. Internet video is about to get a lot more complicated."
Netstat -vat: "With VP8, the promise from Google is a video codec on par with H.264 that will be available royalty-free. It's a good idea, but there might be a problem."
This is another video editor for linux, Kdenlive is an advanced/Stable and free open-source video editor for GNU/Linux and FreeBSD, which supports DV, AVCHD and HDV editing.