Ok heres how you do all of that.
The way that i make it flash black and white is go in the lower left hand corner and click on, "Media Generators", then click on "Solid Color" , and then take the white color thing and place it on the timeline wherever you want it to flash black and white. Now, make it really small, and repeat that until it fits the music.
To slow mo a clip, hold down "Ctrl" and and place your mouse over the end of the clip you want to slow mo, the click and drag it out to however slow you want it, and to make it speed up just move it the opposite way. Then, right click the sound below the clip and click, "Properties", and then go down and check the box that says "Lock to stretch".
And then to place text over video, click on " Media Generators" in the lower left hand corner, then click on any of the text things, and then place it two bars above your video clip, im sure theres other ways, but thats how i do it.
Hope that helps.
