Reel Director App for iOS
ReelDirector is the 1st and the most feature rich, powerful video editor for iPhone, iPad and iPod Touch.
"If you really dig video editing and want to take full control, you should get ReelDirector:
☑ High quality HD output, only re-compress when necessary, quality loss due to editing is minimal.
☑ Highly customizable text treatment - where you want it, how you want it.
☑ Unique transitions: out of focus fade, white out - 28 in total.
☑ Use your own intro and splash videos that were not recorded with iPhone.
☑ Real multitasking, renders in the background and no need to restart the whole export if interrupted."
This app costs $1.99