First speeding up the clip using the CTRL-Key keeping pressed while dragging the clips edges. Then using the right-click function to reverse the video, same to reverse the audio.
I might be wrong, but I believe you must first render the audio and video (or at least the section you want to alter) and then make sure you DO NOT have the Ignore Event Grouping switch on, therebye allowing simultaneous and in sync of your event squeezing for speedier A/V or stretching for slower A/V,
or at least to make it a nobrainer adjustment.
mrjhands: no, that isn't required. The only thing to keep in mind is that if you use Event Velocity to go in reverse, you have to start at the end of the section you want to reverse. However, this won't reverse the audio.
What is probably easier (if you have Vegas 5) is to trim to the section you want to keep, use the "Reverse" function on both the audio and the video, and then use Ctrl-Drag to adjust the speed. Very simple and straightforward. No rendering or grouping involved.
okay i rewound the vid. i did that control and draggin it. then i inserted velocityto play it backwards. now how do u play the adio backwards. i right click it but no luck. there is no options for velocity or anything