Hi, I had a previous version of PE and was able to cut a clip in the timeline and stretch or squeeze it with the Timestretch tool. I can't see how this can be done with PE8 as although you can stretch a whole clip there doesn't seem to be a cut tool, in the timeline at least.
Rather than get around this by using 2 copies of the same clip and editing them separately can someone advise as to whether I'm missing something here.
Now, I do not have PrE 8, so the Scissors Tool might have been moved, but you can still place the CTI (Current Time Indicator) where you wish to make a cut and hit Ctrl+K to Cut that "master" Clip into sections. For another Cut, just move the CTI to where you wish this one to be and repeat Ctrl+K. If you make two Cuts, you will end up with 3 "sub-Clips" on the Timeline and can apply Effects (not just Time Stretch) to, say the one in the middle.
Hope that this helps and good luck,
Do you able to cut the movie in timeline.