Recently aquired the HMC40 with the hope to use a fade function for in camera editing of clips. It appears that's not an option or am I not aware of this function ?:undecided
You can add black fade and white fade to a user assigned button on the HMC 40/41. Page 46 of the HMC41 manual in Europe, it may differ for the HMC40 manual. You can only assign it to the User1 button, it seems.
Yep, assign it to a user button and then hold that button down and it will fade to black or white as long as you hold it. Then when you let go it will slowly fade back to the proper exposure.