The current release installed v16.26, which was able to install and register without having to purchase another license. So, that was good. The current release also fixed the problem I posted about above. I'm glad that it resolved the problem, but, I've been using Videopad for years and it's always been rock solid. But the last few releases have been really buggy.
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I also tried the current release v16.26 with another problematic project I've had the last couple days. This project had 4 cross fade transitions in it. No matter what I tried, the 1st cross fade transition never worked when exporting to MP4. It did work inside VideoPad sequence preview, but not when exporting to MP4. The other 3 cross fades worked fine. Updating to v16.26 fixed this problem as well.