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1. Yes and no. It lacks channel and multi track editing.
3. Yes if file associations are correctly set you can use Edit Original.
>It lacks channel...editing.
What's that mean? You can't affect just the left or right channel of a clip? You have to effect both simultaneously?
Oh, that sucks!
That is why I posted this message. Please support this effort by posting a feature request. You could use the link in post # 5:
This may be helpful...