Crop Texture
This command is only available when pixels are selected. If you create a rectangular selection and call the command, parts of the texture outside the rectangle will be cropped.
After you choose the command, a dialog will open; use this dialog to choose in which material channels the cropping should be applied. If you enable Transform UVW, the UV coordinates will be adapted to fit the cropped texture (this option is only available if all textures are the same size).