Your Timeline reflects the most recent state of your media. All the editing you do, all the effects and transitions you apply to your media files can be viewed from the Timeline only. To create a new media file based on the Timeline, use File > Make Movie. The contents of your Timeline will be "rendered" and saved as a media file.
Video Edit Magic supports making movies in these formats:
Make Movie is presented as a simple four step wizard that takes you step by step through the process of movie making.