Lightworks is a professional video editing software that has just gone public beta. The software is open source and has won Academy Awards and Emmy's.
an Academy and Emmy award winning professional-grade editor with over 20 years of history in the film and broadcast industry. Having cut hundreds of films such as Pulp Fiction, The Departed, Centurion and Shutter Island, it includes a full feature set of editorial tools -- from advanced trimming and media management, to stereoscopic support and realtime effects including multiple secondary colour correctors. Lightworks has an advanced effects pipeline, utilizing the power of your GPU. And with support for up to 2K workflows with realtime effects, it is the most advanced editing application available.
Lightworks is full featured, has a support page, and a growing community of users.
This is great for teachers for working with video for their classrooms and also great for students who are creating videos as assignments.