Version 2008 did NOT take any features away. It was a complete re-write of the program. Version 16 and earlier were DOS based, Version 2008 was based in current technology. But, as Version 2008, 2009, and 2010, those features were re-added, plus new features added.
You Edit the image in your Default Photo Editing software. Just double click on the Image and your Photo Editor should appear.