HyperEngine-AV is a free and open source video editor. The binary they have on sourceforge is for ppc, so I downloaded the sources and tried to compile for intel x86. It actually worked!
I was unable to open up a project I started in the PPC version, and the transitions menu doesn't include the fade options, but other than that it works OK. I'm going to see if I can fix the transitions issue because it is a very cool feature. Hmm, doesn't look like any of the transition features work in the x86 version.
Also, now when I try to open up the PPC version, it quits! :-(