I currently use Premiere Pro CS5 and would like to know where to increase or decrease the speed of video (slow down and speed up) in the sequence?
e.g. Filming somebody running at full speed but when editing the video to add extra effect and emphasis, show the person running slow.
e.g. Filming somebody walking to a destination but instead of showing the video in real time, increase the video speed to save time.
In the sequence, right-click the clip, select Speed/Duration, and change the speed as you like. Set other parameters/options in this dialog if you want.
You can also change a clip's speed in the Project panel, using the same process; note that this will change the master clip and all future sequence clip instances, but will not change any sequence instances already in use.