For a long while now, VLMC has been a work-in-progress. It is a video editor being made by the same organization as VLC. I've been eagerly anticipating having this as a free/open source video editing tool that I can trust will be available in the long term.
I haven't seen any evidence that it isn't vaporware in a long time. So to those in the know- when can we expect to see VLMC finished?