Edit Clip
This option is available from Project Menu. However, most of the time it appears to be greyed out. I only find is non-grey on a clip that has just been added to the Project Tree.
And if I select the Edit Clip menu item - nothing appears to happen. So I dunno what this item does or is supposed to do.
I ask this because I have been doing a heap of work on the kdenlive manual at http://userbase.kde.org/Kdenlive/Manual. I am trying to get a page for every menu item. So this means going through the whole application. A lot of work but I sure know a lot about bits of Kdenlive I never knew about before.
Come over and contribute if you want !

Evolving software + Evolving Manual = no problem :-)
A wiki style manual means that if people use it and find it not quite right there is a chance they will fix it.
I think having the manual on the userbase.kde web site is version two of the Kdnelive manual. We may have two competing manuals.