[Jill Simpson] "1. Do you happen to know if tsMuxeR allows multiple edits? "
No it only allows one edit. When I'm cutting commercials from cable TV recordings, I cut and save multiple times, then I bring all the saves back together and join them into one video. Tedious but it works.
[Jill Simpson] "2. Why can't Vegas do this?"
Because it's an editor not a remuxer and as an editor, it expects to re-encode. I assume that smart-rendering MPEG4 is a lot harder than smart rendering MPEG2 but it would be a nice feature if they could figure out how to do it.
Until then, it's a matter of using the right tool for the job.
~jr
http://www.johnrofrano.com
http://www.vasst.com