Even though Ulead chose not to implement true inter-track transitions this doesn't mean you can't do them, you just have to get a bit creative 
Here's the procedure for doing an inter-track transtition between Video1 and Video2, though it'll work anywhere;
1. create a blank *.tga with transparancy. That's right: nothing in it but the alpha channel. You can also download mine below. Either way archive this for later re-use.
2. Place the video clips on Video1 and Video2 then load in the *.tga to Video2, setting its duration to that you want for the transition. Its alpha channel will be automatically applied.
Now snap the *.tga to align with an overlap over the Video1 clip

3. next drag the Video2 clip to completely overlap the *.tga. A crossfade will be automatically applied, but this can be changed to whatever transition you want.

POOF!! Instant inter-track transition.
Here's the project file ("right-click/save as" to download):
Here's the transparant *.tga
Here's what it looks like;
Enjoy.
Dr. Mordrid

Here's the procedure for doing an inter-track transtition between Video1 and Video2, though it'll work anywhere;
1. create a blank *.tga with transparancy. That's right: nothing in it but the alpha channel. You can also download mine below. Either way archive this for later re-use.
2. Place the video clips on Video1 and Video2 then load in the *.tga to Video2, setting its duration to that you want for the transition. Its alpha channel will be automatically applied.
Now snap the *.tga to align with an overlap over the Video1 clip

3. next drag the Video2 clip to completely overlap the *.tga. A crossfade will be automatically applied, but this can be changed to whatever transition you want.

POOF!! Instant inter-track transition.
Here's the project file ("right-click/save as" to download):
Here's the transparant *.tga
Here's what it looks like;
Enjoy.
Dr. Mordrid
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