Grass Valley NewsEdit XT v.5.5 - Manual (Page 31)

Tools
Digital News Production 29
The Cut Point Edit Tool
The Cut Point Edit Tool changes the edit points between clips in the Timeline.
You can easily create split edits by only selecting audio or video. If you have
handles on your clips, you can access unused portions of a clip without
returning to the source tape and redoing the edit.
The Transition Tool
The Transition Tool creates transition effects between clips in a sequence. You
can create dissolves or wipes between any two edits by selecting the transition
you want and clicking at the point you want the effect to appear.