Hi
If you want a perfect fade out to black (using VP3.02) then remove any fade-out effects from your final clip that you may have already tried..
Add your black frame to the overlay track (video track 2). Adjust it to a suitable length.
Now drag it along so that it extends beyond the end of your last clip on video track 1 but overlaps it by 3-4 seconds.
If you want a longer fadeout overlap it more.
Click the yellow star on the black frame.
In the video effects window which appears, drag the Opacity slider to the left (0% opacity) The blue line on the right will drop to the bottom of its' box. At this point the whole of the black frame will be transparent.
Now click the blue line exactly at the start point. This will fix the line at 0% and leave a red marker. (You are setting a keyframe)
Click the blue line once again a little distance along to the right and drag the line up to the top of the box so producing 100% opacity after say, 3 seconds. (judge by the time scale along the top.)
You can drag the attachment point left or right for adjustment. (If when you've played the sequence you don't get it just right first time you can easily re-adjust it)
When you release the cursor you will be left with a green marker (keyframe 2) The opacity of your black frame will change from 0% (transparent) to 100% opacity between keyframe 1 and keyframe 2)
When you play the end of your sequence now you will see a fade out to black. If your last clip fades and disappears suddenly before the fade out is complete either increase the overlap or shorten the diagonal in the opacity effects line.
Hope this helps
Nat