Video Transition properties can be edited by clicking on the object in the Timeline.

In the Object Inspector, you can set the transition.

1. Name
   The default name for a video transition is 'Video Transition  X' ('Video Transition 1', 'Video Transition 2', and so onward), and this is visible in the name property of the object. You can change the name by deleting the default name and typing in another one.
2. Transition
   The following transitions are included: Custom In, Custom Out, Circle Open, Circle Close, Rectangle Open, Rectangle Close, Reveal, Slide, Radial Blur, Spin Blur, Pixelate, Dissolve, Genie, Swirl, Magnify, Fisheye Lens.
   

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   Click the Preview button to preview the transition on the Canvas. Click the Easing Function button to specify the rate of change of a parameter over time. Configure the transition properties (Movement, Blur Size, Scale, Fade, Spin, etc.) using the controls displayed on the bottom of the panel.