The correct answer to this question is No. While Windows Paint remains a good product, especially when you consider the various things it can be used for, one of the exceptions in the list of things it can do is video editing. Ms. Windows Paint can't be used for video editing.
If you are looking for software for video editing, you can try Corel VideoStudio Ultimate, Adobe Premiere Pro CC, Pinnacle Studio Ultimate, Magix Movie Edit Pro Premium, Apple Final Cut Pro X, etc. There is also other popular free video editing software such as HitFilm Express, VSDC Free Video Editor, OpenShot, Lightworks, Shotcut, etc.
However, Ms. Windows Paint can only be used to edit pictures, and can also be used to draw. Also, there are so many features on the software that will allow you to make colors of any kind i.e., either second color or tertiary color.