The second piece of the Creaza puzzle is the Movie Editor. With JayCut having been bought out by RIM and closing registration for new users there is a void in the online video editing options. While Animoto trys it's best to impersonate such a tool, this movie editor does a nice job. With multiple layers and a ton of different background effects Movie Editor is almost better than the old Jaycut. While recording video and audio live on the web via a mic or webcam seems to be locked down in the free version, it appears to be another of those features that comes and goes. If you are looking for a basic movie editor with a few extra bells and whistles that you don't have to download or install then Movie Editor may just fill the bill.
*Phew, I think I'm finally caught up with double posts. Hopefully next week is easier.