LiVES is a simple to use yet powerful video effects, editing, conversion, and playback system aimed at the digital video artist and VJ. It runs under Linux, BSD, Mac OS X/Darwin, IRIX, and openMosix. It is frame and sample accurate, can handle almost all types of video, and is fully extendable through plugins and the included plugin builder tool. It can also be controlled remotely using OSC.
m2vmp2cut is frame accurate (currently PAL) MPEG2 video (M2V file) with accompanied MP2 audio cutter. Frame accuracy is achieved by re-encoding video around cutpoints. Audio is cut from a separate MP2 file at positions that keep A/V sync as good as possible (maximum sync difference is around 10-15 milliseconds compared to the source).