No iMovie is to edit the videos you take... its not an app to do anything else. Yes you can go into the iMovie app then pick create a movie but it just opens up the same video camera that your get from the main camera app... nothing new added and it doesnt work any better.
And BTW iMovie is POINTLESS... doesnt do much of crap for editing and the 5 themes dont even work for most people. I have had an iPhone since the day the 2g was launched and havent regretted a single app bought since until the other night I got this app..... COMPLETE JUNK, dont waste you money... someone will build upon this an make a Killer editing app soon I'm sure.