From the Store description:
Edit your clips and add slow motion effect in your favorite positions.
You can add multiple slomo regions and change the slowness of every region of the clip.
In the next versions:
- Ability to save projects.
- Other small features.
Warning:
- In-app preview is not at full quality, is just a preview.
- In slowmotion regions the volume is muted.
- Bug fixes
Very definitely a 'version 1' app, then, but it does work:
What happens to audio when the slow-mo is active is something of a moot point - what should happen? Muting audio seems fair enough to me, though I'd look forward to an audio (music) track being possible, to cover the sudden silence. Maybe something similar to Microsoft's Movie Moments could be implemented.
Ideally, of course, this sort of functionality should be part of a larger video editing package like Movie Maker. No doubt the 8.1 video editing scene will be more settled by the time that 8.1 rolls out to consumers officially across the world.
You can buy Slowly here in the Store.
PS. My Glance screen suddenly flipped upside down after installing this application. On the bleeding edge with the 8.1 DP, eh? For the record, I uninstalled Slowly and restarted the phone and all was well again, but more data points welcome!