Most, if not all, capture cards come with some form of video editing software in addition to capture software. Packages such as Adobe Premiere combine the two. Unless you have specialist requirements, push the supplied software to its limits before selecting an editor suitable for your needs. You will be in a stronger position to assess the strengths and weaknesses of the alternatives. All software can appear appropriate to your needs when demonstrated by an interested third party.
Most editors come with a plethora of special effects.
While there is no doubt about the use of these for advertising and promotional material, their use within educational software demands care. Note that special effects can demand valuable processor time during editing. Microsoft VidCap and VidEdit. They are not as resource hungry as some applications and multiple copies of VidEdit can be run, facilitating the cutting and pasting of clips. VidCap supports fractional frame rates.