What transition do you use for the new lolnet intro, it's the one with a red background and white dust. Also, is your theme song Creative Commons? What is the name of it?
I think they're using AVS, but those days it seems that the industry is moving towards more comprehensive tools which does look better when you watch the "pro" videos. You can use premiere (for example as cptwin mentioned above). It's way better, and it's only one off (in comparison with AVS etc.).