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2 cubes , ( i didn't put the Top and Bottom faces on the cubes )
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when the "Edit in Object Space" icon is Blue , we are in "Object Space"
Object Space uses "Orientation" . The 4 Boxes in the Work Space
on the right side ,
will rotate the cube by adjusting the "Orientation Digit Box" values .
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wihen the "Edit in Object Space" icon is Gray , we are in "World Space"
World Space uses "Rotation" . The 4 Boxes in the Work Space
on the right side
will rotate the cube by adjusting the "Rotation Digit Box" values .
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it is possible to build a cube( in Vegas ) , so that the Orientation and Rotation digit boxes
appear to do the Exact same thing . If so , then why do we need 2 sets of
rotation dialogue boxes ?
We can select Object Space and use Orientation to "Pose" our cube .
then we can switch to World Space , and use the Rotation to actually
do our intended rotating .
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Orientation is keyframable too , so we could have dynamic Posing
on the Time Line .
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Rotation dialoge also has x y z offset boxes so we can position the "point of rotation" .
which is more indictive of Wold Space .
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Orientation has no x y z offsets , because Orientation manipulates the cube
in the cube's own center\middle "Object Space" .
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consider ,...a 3D modeler program , Blender ( free on Steam ) . make a cube
from 36 vertices( 3 vertiicies to make each triangle ) , 6 Faces , 6 Quads , 12 Triangles
( the cube is made in it's own Object Space Coordinate System ) .
Now import that cube( .obj .x file ) , onto a World Space's Origin .
usually , the cube's vertices are Transformed into world space Coordinates , to
position the cube , as needed , into world space .
Again , Rotation dialogue has xyz offset boxes , and the xyz position boxes
too , are in World Space .

Special note:
if you have 6 seamless images , you can make a "Skybox" , with Vegas .
then "Move" into the middle of the cube , and it will look like you are in a
hemisphere of a Sky with clouds ,...assuming the 6 images were " blue sky with clouds" .
video games use skyboxes .
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below , is a critcal screen shot , of how the Faces are setup .
each Generated Media is 1920 x 1080 , so external images can be imported
at 1920 x 1080 , or import 6 videos , 1 video per Face .
( ie; texture each Face of the cube with a video , instead of 6 still images )
note :
the xyz dimensions are set to 1080 1080 ( square )
in the Track Motion dialogue .
The Parent Track , Track Motion settings are , 1080 1080 1080 Width Height Depth
and note the Z-axis setting of -540
the remaining 5 Faces are positioned to line-up with this Reference Face .
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use the Parent Track , Track Motion xyz-position digit boxes ,
of each cube to position each cube individually , into world space .
The Top most parent track , track 1 , can position Both cubes
simaltaniouslly , if needed . ( both cubes are in parallel , feeding track 1 )
( cube 1 and cube 2 are at the Same child\indented Level )
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in Object Space , no matter how we xyz position the Event , with Track Motion dialogue ,
uisng "3D Source Alpha" Blend mode ,
if we Orientate it ( Object Space ) , it will always rotate the Event at\using the Event's
Center\origin ( that's "Object Space" )
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one more time :
When the cube is correctly made as shown here,... Orientation( Object Space ) , will ALWAYS
rotate the cube from\on it's center\middle\origin ( of the x y z axis ) .
we can use xyz Positioning , to move the cube to a new screen World location , but ,
Orientation( Object Space ) will still rotate the cube about it's central origin .
( we can use the Work Space boxes on the right side of the Track Motion dialogue )

Next , we can use Rotation( World Space ) with xyz offset , to make the cube
Orbit another cube , or it can Orbit any point we want , including the cube's origin ,
or we can use xyz offset to cause the cube to rotate on one of it's edges .
( we can use the Work Space boxes on the right side of the Track Motion dialogue )

be sure to Toggle between
( Orientation ) in Object Space , "Edit in Object Space" icon is Blue
to ( Rotation ) in World Space , "Edit in Object Space" icon is Gray .
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i can use Orientation( object space ) to make a cube rotate about it's middle\axis ,
then i can use Rotation( world space ) to make that cube orbit .
Planets spin on their axis as they orbit ,...our Vegas cubes can do that too .
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