Final Cut Pro X XML v1.0 is a limited format
XML (Extended Markup Language) is a way of storing information in text files.
Not all XML files use the same format.
Each application that can import and export XML can define how to store its information.
The XML used in Final Cut Pro X is a very different format from that used in Final Cut Pro 5, 6 and 7. You will need a future utility to convert Final Cut Pro Classic XML files into the kind of XML that can be imported into Final Cut Pro X.
v1.0 XML cannot store many features of Final Cut Pro sequences and projects.
If you change any clip parameters - scale, position, rotation, opacity, audio level etc. - the non-default values aren't exported in XML files. This includes any title font and size changes.
No audio level changes or Gain filter parameter values are stored in XML files.
Keyframes cannot be stored in Final Cut Pro X XML 1.0 files.
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It seems that this version of the format is for transferring simple edits into and out of FCP X - not for any sort of round-tripping (exporting from X and then reimporting with all information maintained).
In the case of input into FCP X, it supports workflows when external applications can create simple projects (such as adding subtitles, but without programmatic control of type attributes such as colour, font and size).
When exporting XML, the format seems designed to get edits into other apps for grading, visual effects and audio sweetening, but not for them to change project values and re-import back into X but for Final Cut Pro X to import the resulting movie and audio files instead.
Alex4D (version 1.0)