Hi Borate
Thanks very much for the ideas. I had previously already played about with using a mask but getting the corners correct was quite a phaff. I ended up having to create transparent gif border in another program to use as an overlay. This does work OK but It would be so much easier if a border effect producing something like this could be added...

Just like the current border effect with width settings but with round internal corners and perhaps with a variable blend on the inside.
The current mask controls are not that easy to use as one can't add a grid to the expanded clip preview screen to see if things are parallel etc. and there are no value boxes. I didn't find it terribly intuitive which is one of the things VP prides itself on.
My.gif border does work but its an added complication if I want to use any overlay effects.
Nat