Pan/Crop Assistant: Improved Picture-in-Picture and Video Wall tools. You can now use Track Motion for creating these effects. This allows you to use Pan/Crop for cutting unwanted parts from the video (eg. crop the picture to center on the face). Added Random mode for video walls.
Markers: Implemented Demote Markers feature (converting timeline markers and regions to the media markers)
Import 2D motion tracking data: New tool for importing tracking data from external applications/plug-ins and converting it to Pan/Crop or Track Motion movement. Supported formats are: Boris Tracker Data, After Effects Transform Data.
Quick Properties: Placement tool improvements. You can now easily sort media with date/time stamps (eg. 20110825_0140PM.jpg, 20110815_0205PM.jpg, ...) or numbers (image1.jpg, image2.jpg, ... image10.jpg, image11.jpg, ...) in the file names.
Notable fixes/changes in Version 1.5 (2011-05-09)
Numerous bug fixes and improvements
Added support for stereoscopic 3D properties
Added Select Same Media option to Quick Select tool
Rocket Speed: The simplest and most straightforward tool for changing the speed of a video clip from 0X up to 10000X
Notable fixes/changes in Version 1.4 (2011-01-30)
Added support for OFX plug-ins (requires Vegas Pro 10.0b or newer)
Project Backups: The auto backup algorithm has become more intelligent. Now, it tracks changes and saves only the modified projects. Also it stops working when the focus moves to another application, thereby preventing Vegas to lock the media files while working with them in Sound Forge, for example
Quick Properties: Added a tool to convert cuts to overlaps and vice versa
Transcoder: Implemented Text Clips feature. It enables editors to specify text media that will be used during batch processing. For example, text clips allow you to create text titles, copyright notices, credits, station bugs and so forth
Notable fixes/changes in Version 1.3 (2010-12-10)
Improved compatibility with non-English versions of Vegas
Added support for reading EXIF metadata from digital images
Auditor: You can now easily find and delete the empty time slots on a timeline
Transcoder: New source properties - Auto Rotate Digital Photos and Channel Remmaping
Markers: Added Auto Ripple option to the Keep/Delete Events tool. It supersedes the old Close Gaps option
Quick Properties: You can use the Placement tool to sort events by timecode, recorded date/time, in a random or in reverse order. Added support for Tape Name property. It can be useful in multicamera projects, as Vegas Pro uses it to create a track for each camera. Added a new feature - Extend Events to Cursor, which allows you to extend or shorten the clips to the cursor position. This can be very helpful when creating various multilayered effects and it is necessary that all the clips start or end at the same time
Photo Snapshot tool includes a number of new features that can help you to create various dynamic or static photo collages, such as photo stack, scattered pictures etc.
Notable fixes/changes in Version 1.2 (2010-10-25)
Text Generation Wizard - a new tool for fast and easy creation of various titles, labels, countdown timers, hard subtitles etc.
Transcoder: Added support for folder name patterns. This allows you to create dynamic folders, such as "C:\<Path to Output Folder>\<Render Template Name>\<Date of Rendering>\<Project Title>" etc.
Markers: Implemented various additions and improvements (Added closed captioning support, import and export subtitles etc.)