Is it possible to zoom the timeline tray out, or expand it?  With longer projects it gets tedious to make edits or additions in the middle of the project by dragging everything you create new from the end to some point in the middle. 

Am I missing something?

There is no zooming for the timeline.

if you click an element in the middle of the timeline and then add a new element, the new element will be inserted right after the selected one.

however, I think that copy and paste always dumps the new item at the end of the timeline.

If you have multiple items at the end you can multi-select them and move them as a group to the middle of the timeline.

Be sure to watch the tutorial video for more information.

-Mike (videoscribe user)

I too find the Timeline icons too big on larger projects. I hope there is a solution to this in the future.