The yellow flags and blue highlight is the selection area.
Just place the cursor where you want and press the left mouse button you just get a cursor and no highlighted bit. if you drag the cursor then you get the highlighted section.
It is handy to highlight bits as you can then use to cut and paste clips, play selections or use it to please regions by pressing R
if you pres 0 (ZERO) you can play a 2 second piece of the time line
If you use the "BACK KEY" you can return to previous regions
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