When the I-beam is highlighted, you are in \emph{cut and paste mode}.
In cut and paste mode, clicking the LMB in the timeline does reposition the \textit{Insertion Point}.
Double clicking in the timeline selects the entire edit the cursor is over, i.e.\ that column.
When the I-beam is highlighted, you are in \emph{cut and paste mode}.
In cut and paste mode, clicking the LMB in the timeline does reposition the \textit{Insertion Point}.
Double clicking in the timeline selects the entire edit the cursor is over, i.e.\ that column.