Jahshaka: realtime editing and effects

Having been more interested in media-driven opensource tools ever since heading the ConvergeSouth media team, I found this doozy a while back but never got a good look at it.
Jahshaka is really a great piece of work. It already supports linux, MacOSX, Windows, Irix. It is a realtime editing and effects system that seems to me runs straight and true to the a lot of the older school tools that I’ve used in the past.
It allows you to run scrubs on clips, and maneuver transition effects and other modules into place to create a more professional looking movie clip.
And guess what. It’s open-source! Have at it!