I'm not sure about Vegas Pro, but it only seems natural
that Vegas Video and Vegas Pro operate in similar manners.
For the velocity changes, right click on the event you wish
to alter and press Insert/Remove Velocity Envelope. A blue
line will appear running down the middle of your clip. You
can move the clip up and down to alter the speed. When you
lower the line beyond a certain point, you will eventually
wind up playing the clip in reverse.
Yes, but velocity (pitch) envelopes are such an essential
feature for audio editing also. Why would I buy Vegas Video
instead of Vegas Audio just because it contains ONE feature
that I need?
Actually, you wouldn't be able to play audio backwards in
Vegas Video either.
Pitching audio with an envelope is a larger task than it
may seem. The largest hurdle being an envelope at or near
0% playback rate. It's much harder than, say, grabbing
frames out of order.
As a result, it is a feature that we have not adressed in
Vegas, yet...
I managed to find a nice substitute for pitch envelopes:
the Sonic Foundry Vibrato plugin. If you set the Vibrato
rate very low, you can edit and use the vibrato envelope as
a pitch envelope of sorts. Of course, this only works in
projects that are shorter than the phase length of the
slowest vibrato rate you can set, and it always spans the
whole project, but hey, it's better than nothing. :)
This hints that pitch envelopes would be possible to
implement in Vegas, if you just set some limitations: the
pitch cannot go too near, or below zero (as the event
length would approach infinity), and if you want to play
the event backwards, the best way to implement that would
be to make it an event flag (just like the Mute / Lock /
Loop / Normalize ones).
The only big hurdle I see here is visualizing the event
length correctly. With a complex envelope, the event will
squash and stretch in various places.
Clever workaround! We have considered velocity envelopes
for audio and it is pretty difficult. We'll consider this
feature for future versions of Vegas, but don't count on it
for the next release.