Where is the Video Library Defragmentation feature that is supposed to be in Video Library Tools for Streams 5?

This tool does not exist. In an earlier stage of the development of Streams 5 we were intending to add a defragmentation feature to the Video Library Tools program that is part of Streams 5. Earlier editions of the Streams 5 User Guide included instructions on where to find this tool and the Video Library Tools may have even included a defragmentation button which did nothing, but as Streams 5 entered the late Beta stage we revised our strategy for dealing with the recovery of space used by unwanted scenes in the Video Library file. The Video Library Archive tool fills the role that was originally intended to be filled by the Video Library Defragmentation tool. The Archive tool generates a new Video Library File containing the Movies and Scenes that the user specifies, allowing unwanted data to be deleted as the new Video Library is kept and the original discarded.

Is there a utility to automatically convert my Video Savant SDK application to a Streams 5 SDK application?

No, Streams 5 SDK functions are vastly different from Video Savant SDK applications. Porting an SDK application from any verson of Video Savant to Streams 5 is much different than porting a Video Savant 3.0 SDK application to Video Savant 4.0. Streams 5 SDK applications are closer to Video Savant Processing Libraries in structure than they are to Video Savant SDK applications.