At the point where you want the split, click the red cursor and click the scissors, or click the SPLIT button, or press the "L" key.
Selct one of the two clip sections and press the <del> key>. Export.
Press <ctrl-Z> (EDIT | UNDO) and the half that was deleted will return. Delete the other half. Export.
OR
Set the cursor where you want the split and with the left mouse button depressed, drag across the first section to be exported.
Right-click the highlighted area and EXPORT SELECTED REGION.

http://help.nchsoftware.com/help/en/videopad/win/editing_trimmingsplitting.html
Click the ? at the top-right of the Videopad window for HELP. Press <ctrl-F> for a search box at the left-bottom.
Also check out tutorials... http://nch.invisionzone.com/topic/23872-videopad-tutorials/