The existing "apps" to edit video on Android tablets are constrained by the modest two-core processors, SSM (32GB or less), 1GB RAM, and interactivity with files on micro-SD cards or other peripherals. I don't think any operate with USB-powered external drives, or work only with FAT32 devices with their own power. Android Movie Maker, the only Android NLE "app" I've read about, can't even split clips very well, or so I read.
During 2012, quad-core tablet computers and iPads will begin to appear. Some will have 64GB or even 128GB in SSM, and may have improved interaction with micro-SD or other supplementary memory. This might allow for more video editing features; perhaps not what you expect on a desktop, but at least enough to create short 720p or even 1080i videos for upload to sharing sites. Disk burning might not be a priority, but handy.
A 1 LB tablet is a lot easier to lug around than a 3 LBS netbook or a 7 LBS notebook. I'd predict that, by 2015, the migration to tablet or smart phone devices for video might be as phenomenal as that witnessed in the growth of cell phones relative to traditional land-line phones. The things will win by being so small and light, while delegating heavy storage or tasks to "cloud" processors or servers.
I don't know how good the iPad version of iMovie is, but the Android competition sets a very low bar to beat. Avid could, if it wanted, capture a big share of the Android NLE app market with relatively little effort. This might generate more sales than an effort to sell a Pinnacle Studio 16, which might inspire a few to upgrade but not much else. Avid might prefer, for a change, to make some money.