Changing Clip Speed
You can change the playout speed of a clip by alt-clicking on the clip near the beginning or end of the clip.
When you do this, the Mouse Pointer will change to
to indicate you can change the speed.
Alt-click and drag out to speed up the clip or drag in to slow it down.
You can also change the playout speed in the Clip Inspector.
A clip that has been slowed down will be marked with
a 
, a speeded-up clip with a
.