This useful application lets you do different actions on the following video formats: MPV, M1V, and M2V.
Its main use is extracting a video sequence from a specific file. The resulting video streams can be cut without needing to manipulate the entire file. The program can also sync the image and audio of the output file.
Cuttermaran lets you edit the frames, but requires the installation of TMPGEnc 2.5 for optimum performance. Another interesting feature lets you create episodes in OGG format.