Can I edit a video (change effects) in VLC Media Player?

1. Open VLC
2. Go to File > Convert/Save...
3. Select the media file you want to convert or alter
4. Check Show more options
5. In the Edit Options field, add your filter options to create the appropriate changes that you desire.
6. Click Convert/Save

Note, this will not apply the changes you have selected in the preferences dialog to the file. You will need to look up the command-line format of the effects that you wish to apply. For example, to rotate the video 180 degrees, use

:transform-type=180

You can find a comprehensive list of the command-line filters here, though most are presented in the global format (starting with --), which you need to convert to the stream-specific format (which start with : instead).