Stigmon,
Don't worry too much about the steps--it looks like a lot of work/effort because of the way its written out. It honestly only takes, maybe, a minute to a minute and a half to complete, if that. It's definitely worth a shot... it might be weeks or months before Apple releases an update. It's completely reversible and I include those instructions.
It's certainly not a solution to the problem, but, it's at least workaround we (those that are using our time machine drive(s) as an events/project disk) can use until Apple fixes this thing for good. Heck, it might not even be fixed in the next version.
Maybe it's just me, but I never expected FCPX to work that well when it came out. I never planned on using it as my primary editing software because it is a x.0 release. No matter what software you use and how much you pay for it, they're always pretty terrible. It's a completely re-written application and these things take time to perfect.
I'm a developer on the side, and by hobby, and I know how much work they put into this software and also know how, essentially, impossible it is to test every single potential situation. From a consumer standpoint, I'm a little let down that it's not up to Apple's typical above-average quality out of the gate. As a reasonable person, I'm pretty pleased, overall, I think. I'm not calling you unreasonable, so please don't read it that way.
Think about it this way... if it was perfect in X.0, you wouldn't have anything else to look forward to :-).