That one in your link is the full version of Vegas. That is, it's NOT Vegas Movie Studio.
Like Zarxrax said, Movie Studio doesn't have as many of the features that Vegas has, but that doesn't mean it's bad for making AMVs. It still has multiple video tracks (up to 4, I believe), but I haven't used it in a few months. All the visual effects and transitions are still in there, and I'm pretty sure you can use them to their full capability. The one thing I know that is not in Movie Studio that the full version of Vegas has is masking. With masking you can cut out custom selected bits of a frame and do what you want with it. Movie Studio will allow you to Pan/Crop, but you can't make anything outside of rectangular variants of the original video file.
All and all though, if you want a solid program to make AMV's with, and are short on cash, then Movie Studio will do the job much better than WMM. I use the full Vegas though because I do other video work outside of AMVs, so I find it's capabilities useful at times.