We'll try to list all of the FREE video editing software in this post.
If you know of some that's not here on the list, post a reply and i'll add it.
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WINDOWS:
Windows Free Media Editor. Its called Windows Movie Maker.
You must use IE to download this product as well, Open source browsers will not allow you to access the site I believe. Windows MovieMaker 2 is a capable little editor and ships free with virtually all new XP computers these days, with upgrades available on the Microsoft Website and other addons available as part of the Plus! package.
http://www.microsoft.com/windowsxp/using/moviemaker/default.mspx or
http://v4.windowsupdate.microsoft.com/en/default.asp
Blender
model • shade • animate • render • composite • interactive 3d
Blender is the free open source 3D content creation suite, available for all major operating systems.
http://www.blender.org/
Jashaka
The worlds first open source, hardware accelerate editing and effects system! Well worth to check it out.
http://www.jahshaka.org/
Virtual dub
A powerful freeware video editor with lots of features, including a choice of compression codecs, splitting, addition of audio tracks. Excellent.
http://www.virtualdub.org/
WAX
Wax is a high performance and flexible video compositing and special effects software. The idea for Wax is to be very general purpose and flexible in video compositing and effects, so that you can compose your dream video sequence with ease everytime.
http://www.debugmode.com/wax/