Is there any way to save this video clip locally so I can edit it in Premiere or Cleaner?
I can't see a way to save it, it is as though it is blocked for copyright purposes. I can't click "Save As".
These aren't files, but rather streams. In the case of the Microsoft format, the stream is "mms://" [which I think stands for "Microsoft Multimedia Streaming"], and in the case of the Real format, the stream is "rtsp://" [which I think stands for something like "RealTime Streaming Protocol"].
Before you can do anything with the underlying videos, you need them in some sort of a file format [typically that would be some sort of an MPEG file], which is to say: The first thing you must do is locate [or purchase] a piece of software that can convert a stream to a file. Generally speaking, outfits like Microsoft and Real have used aggressive legal maneuvers to keep these products off the market [precisely because they don't want you to convert streams to files], so you might have to look to Europe or Asia for such a product.
This link describes some products that claim to be able to save streams as files:
http://all-streaming-media.com/record-video-stream/record-streaming-video-windows-media-and-real-video.htmONE FINAL WARNING: Many of these "shareware" products have a terrible reputation for containing various forms of spyware and malware that will really screw up your computer. You might want to ask around [for evidence of satisfied users] before you install any of them on your own computer.