Yes, in Video Edit Magic you can accurately specify the start and stop times for a selected source like Video, Audio, Transition or effect. You can also specify the slider's current position. There are three time boxes on the left of the timeline's scrollbar. The first box displays the Sliders current position, the second displays the selected source's start time and the third box displays the selected source's stop time. To specify the length of the transition, select it and enter the start and stop in the timeline.
You can also zoom into the frame level and adjust the transition sliders.