I certainly can. As long as the copyright holder is duly compensated upon resale of each unit, and the alteration is sufficiently disclosed to the buyer. Can you say fair use?
No, I can't say "fair use" in the context of this violation of copyright.
The editing companies are not "commenting on" or "criticising" or "parodying" these movies. They are taking a work, making changes to it and reselling it. The very narrow copyright exception does not cover this circumstance.
Sorry.