Can I edit pieces of a video out like I can an audio clip?
Here is some info on editing videos, you may be looking for the trim function (?)
It looks like Michael has you covered here with video editing information, but if there is something else you're looking for, can you share a bit more information?
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Correct me if I'm wrong, there's no way to edit within the video, correct? That would be a handy function. So would being able to speed up portions of the video. Without the former, it makes recording in Camtasia the preferred method (which is a headache). Any way to get a more robust video editor?
You are correct. Advanced video editing capabilities are not within the software and you would need to utilize a 3rd party tool prior to import.