Google's new visual tools. Awesome is a pretty accurate statement.
I'm usually not easily impressed when it comes to editing visual material. Specifically not if it's done automagically as it usually really sucks. Google's new toys are actually quite great. They have a lovely presentation online.
The video starts 13 minutes into video with hangouts and general google+ stuff. The interesting part starts at around 22 minutes into the video. My video aggregator doesn't support jumping to a specific time. So skip manually.