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gfxCardStatus (free) I found the link to it on EveryMac along with some other info about graphics switching. fast access via menu icon auto/manually switch between discrete and integrated graphics power source-based switching growl support open source

My understanding is that this is due to the fact that the slide transition takes a certain amount of time - the 15 seconds is the total time the slide is undistrubed on the screen and it allows a certain amount of time for the changover - the way to check this is to set the timing to '0' and see what happens :)

The problem was with the cross-dissolve transition that I was trying to render. Technically, I haven't figured out the problem, but now I know what is causing the problem. I am able to render video in other sequences and that works just fine. I haven't tried rendering a cross-dissolve transition in another sequence. Thanks so much to bmike for helping me ...