iMovie for iPhone 4 / iPad 2 updated to v1.2, adds AirPlay support for sharing to Apple TV

iMovie iOS app has been updated by Apple. Designed for the Multi-Touch screen, iMovie puts everything you need to tell your story at your fingertips. Browse and play projects in the stunning Marquee view. Make a movie in minutes by adding video, photos, music, and sound effects. Then give it the Hollywood treatment by adding a theme, titles, and transitions. And you can share your movie with the world – right from iMovie.

What's New in Version 1.2
+ Universal app designed for iPad 2, iPhone 4, and iPod touch (4th generation).
+ Multi-Touch Precision Editor (iPad only).
+ Multitrack audio editing with 8 themed soundtracks and over 50 bundled sound effects.
+ Audio recording directly into the timeline.
+ Audio waveforms (iPad only).
+ Three new themes — Neon, Simple, and CNN iReport.
+ HD sharing directly to YouTube, Facebook, Vimeo, and CNN iReport.
+ AirPlay support for sharing to Apple TV (compatible only with second-generation Apple TV; requires iOS 4.3 or later).
+ Project transfer to your computer and compatible iOS devices through iTunes.
+ Ability to add titles on photos.
+ Option to add fade-in from black and fade-out to black.
+ Numerous enhancements, including trimming in Video Browser, in-use markers, video rotation, and more.

iMovie for iPhone / iPad is available for download $4.99 on the App Store in the Photography category.