Is there one word for "fade in, fade out"?

Are you referring to one scene fading out and another fading in in its place? If so, for video, that is called a dissolve. Wikipedia describes it as:

... a gradual transition from one image to another. [...] A dissolve overlaps two shots for the duration of the effect, usually at the end of one scene and the beginning of the next.

The Oxford Living Dictionaries concur:

dissolve

NOUN

An act or instance of moving gradually from one image or scene in a film to another.

‘the alternatives to a cut are fades or dissolves’

In the audio world, that's typically called a cross-fade. Per the Oxford Living Dictionaries:

cross-fade

VERB

[NO OBJECT]

(in sound or film editing) make a picture or sound appear or be heard gradually as another disappears or becomes silent.

‘there's some imaginative use of cross-fading’

NOUN

An instance of cross-fading.

If you're thinking of one scene fading out and then the same scene fading in, I'm not sure what that would be called other than to pulse:

pulse

VERB

  1. [no object] Throb rhythmically; pulsate.

    ‘a knot of muscles at the side of his jaw pulsed’

Although I suspect folks would understand fade in and out much better.