Make a video collaboration tool on Acrobat Connectnow to allow users to collaboratively edit a movie using similar tools as in Adobe Premiere or other commercial video editing software. If all of this was online it would be very easy to make videos for projects, etc. with friends without having them download software.

Allow videos to be uploaded either as files from a person's computer (.mov, .wmv, .mpg, .mp4, etc.) or from video sites like Youtube, Google Videos, etc. using just the link to the video. The exported video can also be exported into various formats and saved to the user's files or just directly downloaded to the user's computer.

The software does not have to use processing power on Adobe servers since flash can probably use hardware acceleration on client computers to process/convert videos, apply transitions, etc.

Even better would be to make the software work with Adobe AIR for more hardware use and offline use.

This would be really nice for collaborative video projects involving people working on PCs and Macs because it would provide a common, cross-platform video editing tool and allow users to simultaneously edit different parts of a video while talking to each other and discussing ideas. It would also be even faster than with a single user making a video while listening to other people suggest ideas, since each user would actually apply their ideas, rather than telling them to the one person editing with conventional software.