Totally Hip Software today released HipFlics 1.1, which it bills as the most economical video compression tool supporting all QuickTime 5 codecs for Mac OS and Mac OS X. HipFlics sports a drag and drop interface, timeline based control, cropping, watermarking, and filters. Version 1.1 adds support for VP3, the open source codec from On2, as well as the Sorenson Video 3 codec. HipFlics is available for US$99.95; a demo is also available.