To shorten a track first select the track and move the cursor to the
point where you wish to cut the track back to...then use the small icon
(pair of scissors) and cut the track. Select the part you no longer want and
delete it.
To make the audio fade in or out right click the audio and select which
option you need.
Yes, you can split or trim music clips the same way you do video clips....
and fade in/out options are in those you have with a right mouse click on
the clip on the timeline.
You can overlap two music clips to mix the transition, or you can have quiet
space between them as music clips don't have to be abutting as video clips
are.
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PapaJohn