I have just uploaded the new version of my bluescreen video editing program. Written totally in VB. Its not Completely related to VB Games, but could be adapted easily. Would be ideal for cut scenes or fixing up your sprites key colour. It allows you to import/export an avi or a series of image files. Heres a few of the current features:
• Import image sequences and video files • Key out colours to create perfect blue screen footage • Basic composition abilities. Load in a background sequence or video file and key the foreground footage over the top • Export to Avi and Bmp files • Export corrected frame, alpha channel or composited footage/images • Actor and Garbage Mattes • Saving and Loading of work • Heaps of customizable options • And Much More...
You can check out an old program I wrote, Sprite Master 2, which is for sprite editing and creation. Also my Binary Resource File Creator v1.2. Both of these are open source and ideal for games. Have a look at them Here