Timewarp is one the most commonly used filters in Liquid Edition, but it's rarely recognized as actually being a filter. But that's what it functions as; slowing down a clip or speeding it up is a way of filtering it in order to alter its appearance.
I touched on Timewarp briefly in Chapter 6, when I used it during a four-point edit. In that case, Liquid Edition added Timewarp automatically, but in this chapter, you're going to learn how to manually add Linear and Dynamic Timewarps to your clips in order to alter the speed at which they play back.
Both versions of Timewarp are Classic filters even though the Dynamic Timewarp is relatively new. This means you need to render Timewarp filters before you can view the results.