Once you have selected a video clip in the List View, you see all you can do with this clip.
You can simply click on the picture to play the video. You can enter your own notes, rating, level and tags.
Click on the Tags button to assign more tags to the video. Click on the Details button to dig a bit deeper. For example you can set a start and an ending for your clip. This way you can crop exactly the part you are interested in.
You also have the option to see this clip in youtube by clicking the youtube symbol in the action bar.