I have created a multi track and I want to copy 1 clip out of this newley created multi track and once I try to select the clip I wish to copy the whole track lights up seleted. Is there a way to just select that clip without the whole track getting selected?

Not sure why it does this in this case, but my clips were grouped..I right clicked on the clip....and chose select events till the end and chose group and chose remove from...and whala....

There ya go peeps if you ever wondered about that one...

ah, didn't see this before but glad you found the answer but there's another way. Highlite what you need ungrouped then hit the U button. That will ungroup the events (clips) it will also ungroup the audio from the video track if you desire.
Gotta love Vegas, so many ways to do so many things.