EDIT:
There is a rather confusing element to this. I copied and pasted the slip edit version 3 times and I wonder if they are linked somehow? This may be my ignorance in how PRV works as opposed to Abeltone's clip edit - PRV shows all midi together on the timeline where in Ableton I'm just editing the MIDI for the selected clip.
Let me do a little more homework so I can come back with more specifics. I searched the forum and found where people said they had to apply it twice to get it to work - it just doesn't work for me. Even if I apply trimming multiple times, if I edit the MIDI clip in the Piano Roll view, all of the extra MIDI junk before and after the usable part of the clip is still in there. It is annoying to see and makes focusing on the actual MIDI more difficult.
Is there a way to truly apply trimming or do I have to go and manually delete all the other stuff if I want it gone?