The new iMovie app for the iPhone/iPod touch and iPad 2 offers iDevice users an easy way to record and edit films. However, there is one limitation we’d like to point out, courtesy a tip from one of our readers, Ted Landau (@tedlandau).

When Steve Jobs revealed the iMovie app at the iPad 2 event earlier this month, he showed the world what the app could do. Unfortunately, there is one limitation, which Jobs did not mention. After importing non-Apple video clips to your iPad 2 or iPhone, the video clips will not appear in the Video browser within iMovie.

This is because iMovie for iOS is designed to work only with videos recorded with the iPad 2, iPhone 4, and iPod touch (4th generation). Therefore, these incompatible clips cannot be added to your iMovie project, since they are automatically filtered out.

This information was posted on Apple’s iMovie support page.

The universal iMovie app is priced at $4.99 in the App Store.