It looks like they've transferred almost all controls into the Edit menu and the two tabs under 'Video' - tools and color. As well as transferring controls from the timeline, they've also done it from the Preview Window. There used to be useful set of grabs in the corners and mid-way so you could manually size the picture in-video (so to speak). Now you have to use 'Position/Size/Flip' in the Tools tab of the Edit menu.
I don't mind them adding these tools, but why remove the pre-existing functionality that has served us so well over years?
It rather reminds me of when Microsoft summarily dispensed with Movie Maker in favour of a 'simplified' version in Windows 7 with a lot of the functionality stripped out or dumbed down. Apparently that was 'progress'! I do hope that Power Director isn't going the same way.
Paul