System Information
Win7/64, AMD HD 6850 (latest driver)

Blender Version
Broken: Blender 2.69.3 ab49437 (64 bits)
Worked: Never. :) Tried several versions back to 2.4 where strip cutting has been introduced.

Short description of error
After cutting a movie strip (Shift+K), the UI is not updated immediatelly to reflect the new length of associated effect strips

Exact steps for others to reproduce the error

1. Add a movie strip to the VSE
2. Add a "speed control" effect strip to the movie strip
3. Cut the movie strip (Shift+K) anywhere in the middle

The speed control strip has been shortened by cutting the movie strip, too, but the UI doesn't reflect this change immediatelly. At least you have to press the G key to update the display.