This was not obvious (at least not to me) how to do this, so I tried every gesture I could think of, and I finally got it. To split a clip: 1) Tap once on the clip you want to split to select it (it will be outlined in orange). 2) At the point you want to make your split, swipe vertically downward with your finger (if you think about it, it's almost a slicing motion -- so it makes sense). 3) iMovie 1.1 will split the clip and insert a transition marker. Double tap on the transition marker in between the clips to set a cross dissolve or to change the theme at this point. You can two-finger reverse pinch a clip to expand it to get a more exact insertion point. I still don't see any "tips" the update mentioned. Does anyone know how to generate these?