Wax

Wax is a high performance and flexible video compositing and special effects software. The idea for Wax is to be very general purpose and flexible in video compositing and effects, so that you can compose your dream video sequence with ease everytime.Wax can create 2D & 3D special effects and can work in two modes – as a standalone application which would appeal for home users/beginners, and as a “plug-in” to video editors/NLEs which would be more useful for professional editors.

VirtualDub

VirtualDub is a video capture/processing utility for 32-bit and 64-bit Windows platforms (98/ME/NT4/2000/XP/Vista/7), licensed under the GNU General Public License (GPL).  It lacks the editing power of a general-purpose editor such as Adobe Premiere, but is streamlined for fast linear operations over video.  It has batch-processing capabilities for processing large numbers of files and can be extended with third-party video filters.  VirtualDub is mainly geared toward processing AVI files, although it can read (not write) MPEG-1 and also handle sets of BMP images.

Windows Movie Maker

       Microsoft has made version 2.6 of Movie Maker available for download, and it runs on both Windows Vista and Windows 7. While advanced users are likely using a more sophisticated video editing program, there’s no denying that Movie Maker is an excellent, full-featured option for the average home user.