I'm testing a facebook application that allows for rudimentary creation and distribution of fan edits (or derivids as I call them), without violating copyright law:

http://www.facebook.com/apps/application.php?id=17722160744
http://apps.facebook.com/viewjmix/profile/help

It requires Internet Explorer and windows media player for now.

How it works:
If we both own a copy of star wars, one of us can create a series of clips and the server will instruct the others media player (or anyone elses) to play back a copy of star wars (which you specify) to play the derivid.

You can create any number of clips of movies, re-order the clips with drag and drop, view clips that others have selected and copy the clips to your own creations.

I'd love to have a few people with experience creating these kinds of works to try it out and give feedback for how I can improve the user experience.

Thanks!