World's first frame accurate H.264 AVCHD cutter without re-encoding!

I have downloaded a trial version today to test it first before I buy.
It seems to be good for me but I have some questions.
Can anyone explain how I can:
1.
Cut out a few frames
2.
Add a few frames to a file
Thanks

I use Dreambox 800 HD. Are recorded TS files also OK for using with Smart Cutter? Or is there any downgrade if I use Smart cutter for editing?
Thanks