I thought I would try this program out it has a long way to go before it's really useful especially for a paid software. Even the playback did not show subtitles. There is a lot of free cutters out there that do this type of job but cutters now a days need to support subtitles and all formats.

Hello molitar,

.mkv files support many different codecs.
Bandicut supports .mkv files. However, you can’t use high-speed mode in some .mkv files.
If you can't use high-speed mode, you have to use encoding mode.
(We will support more .mkv codecs in the near future.)

We released Bandicut about 5 months ago, and we keep adding more functions.
We may support the multi-cutting and merging function by the end of 2014.
And then we will show subtitles in the future.

Thank you for contacting us!