The speeds available on the speed control are adjusted based on the bitrate and compression type of your video clip, as well as the version of iPad you have. Video clips at high bitrates and with certain compression types, and on certain iPads won't successfully play faster than the bitrate allowed by the app. If we allowed it, the iPad would run out of memory and the app would crash.
However you can use a free utility to re-encode your media called Handbrake, available at http://handbrake.fr/downloads.php
You can use the default .mp4 settings in Handbrake to produce a good video for use in Pinnacle Studio for iPad.
I also find the search on our forum sometimes un-useful due to the common word limitation. I'll see if we can do anything about that.
Hope this helps,