It's a full functioning but cut down version of the Magix audio music production editor.Limited amount of usable tracks and instruments and audio samples as well as a few effects similar to those found in the MEP sound mixer.
You should find it in your program list as a separate program under the main Magix list.
Make sure that you have downloaded and installed everything under Help, Install extra content.
The Soundtrack Maker is under Edit, Wizards, Soundtrack Maker. The music files will have been installed under:
C:\ProgramData\MAGIX\Movie Edit Pro 2016 Premium\Soundtrack Maker Styles and you probably have these ones:
Classical
Funky
Relaxed
Spirited
Sportive
You can use this Wizard to create some music to go along with your video or a range in your video, change moods, add emotion, add Automatic cut adjustment.
You can also purchase more styles on-line, but you have to put them in the correct folder (above) and also make a backup copy somewhere.
Yes, non-commercial only. Note that most of Magix' material is for non-commercial use, meaning no money. I don't believe that it is for "private use only."
One more reason to use VPX - you get commercial use of the very same content that comes with MEP.
Yes Sorry, non profit use, and after looking closely at EULA applies to sound samples and music tracks and any still images that may be found within MEP, not including fonts and the basic transitions and effects, (those not obtained separately via the shop whether bought or obtained via vouchers). Fades and effects within MEP are also OK to use commercially but unsure about some of the added limited function packages statuses such as Vasco De Gamma etc.
Commercial licensing for such use of those is on offer directly from those parent companies supplying shop content but sometimes those are hard to find.
From the menu bar at the top select Edit, Wizards there you will find the Soundtrack Maker as shown below
I assume you are new to Movie Edit Pro in which case I would advise you read the PDF manual available under Help, you may have to download it and watch the 'Getting started with Movie Edit Pro' series of tutorials by @browj2 in the Tutorials section of the forum.