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Can the latest version of Video Studio edit Nikon's D90 video which is shot at 24 fps ????

The speed is not the real concern, but the codec it uses. The D90, a digital still camera, records video using the very old predecessor to DV, but still very good quality MJPEG codec. Yes VS is capable of using that codec AND at 24fps.

The MJPEG codec is wrapped in the "avi" container. So when you are setting up your Project settings, you need to change it from the default MPEG to Microsoft AVI. Then click on the Options button, navigate to the AVI tab, select MJPEG from the drop-down menu. Next go to the General tab, select from the Frame Rate drop-down menu 24, and finally from the Frame Type select Frame Based since it is not interlaced video.

You can also set the Frame Size to match that of your source clips, which I think is 1280 x 720.

I am not sure that the MJPEG codec is installed as part of Windows or Video Studio. I remember having to buy my own version a couple of years ago! But it should be on the CD which came with your camera, and would normally be installed if you installed the utilities that usually come on such CDs.

I am presently trialling VideoStudio X2 Pro and I find I can make 1280 x 720 movies at 24 fps using the MJPEG codec from my animations which start their video life as sequences of still photos. Not a definitive answer for the Nikon 90 - we need a sample video to be sure, but MJPEG seems to be a well supported format.

It's well supported because it has been around for a long time!!