[LagunaSol]

Any ideas on how Apple does the zooming/panning, little magnifying glass effects, etc. on their iLife tutorials?

Apple - iLife - Tutorials

Either there is a killer Camtasia-like screen capture app for OS X that I'm not aware of, or Apple has some secret in-house tool that the rest of us could definitely use.

Or did they do all this the "old-fashioned way," using a video compositing tool?

[- - e r i k - -]

Looks like the "old-fashioned way" to me.