If you have video on tracks 1 and 2, the one on track 2 will show in the preview window. To see track 1, right click video 2 and click 'enable'. There will be a tick next to it, clicking will remove it, and then you should be able to see the video on track 1 in the preview window.

I haven't used Elements 3 much at all and I haven't found the cutter tool or its equivalent. If you find it, let me know.

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