Sorry you have had a tough time with this. But, again, urge you to simply upload and share two files...
Your SOURCE video (two-minutes) and the .VPJ file that is created when you use FILE|SAVE PROJECT AS (not Portable project). Then we can test an export.
With the current VP version, there are new Aspect Ratio options available in the effects window that can be tested: CROP, LETTERBOX and STRETCH. One of those, applied to your video, may solve the problem. Those aspect ratio choices are also available on the clip in the bin via the right-click menu. Once applied, the clip can then be dropped onto the timeline.
And, as Nat mentions above, "If you export at a 16:9 AR (Preset: Custom Wide screen TV for example) it should come out OK"