From itunes.apple.com - November 24, 2012 8:59 PM

Top editing features
• Basics: Crop, Straighten, Rotate, and Flip
• Color: Exposure, Brightness, Contrast, Hue, Saturation, Tint, and Temperature
• Filters: Black & White, Colorize, Sketch, Soft Focus, Sharpen, and Reduce Noise
• Effects: Vibrant, Pop, Border, Vignette Blur, Warm Vintage, Rainbow, White Glow, Soft Black and White, and 45 additional effects that can be purchased
• Borders: Rectangle, Rounded, Oval, Soft Edge, Vignette, Rough Edge, Halftone, Film Emulsion, and 40 additional borders and frames that can be purchased