If you have been working on the iMovie event& project on your mac it is not an issue, in my case the client had done a pre-edit on their mac in iMovie, it worked a treat.
The manual steps through how to import the project to FCPX
http://help.apple.com/finalcutpro/mac/10.0.6/#ver41812c7c
Import from iMovie
You can import any of your existing iMovie projects and your iMovie Event Library into Final Cut Pro.
Note: If you want to import an iMovie trailer project, you first need to convert it to a standard iMovie project. For more information, choose Help in iMovie ‘11 and search for “Convert a trailer to a project.”
Important: iMovie projects and clips from the iMovie Event Library are not automatically analyzed during import because they retain their original analysis results from iMovie. You can override iMovie analysis by analyzing your clips in Final Cut Pro after import. For more information, see Analyze your media.
Import an iMovie project
- In Final Cut Pro, choose File > Import > iMovie Project and locate your existing iMovie project, typically found in the Movies folder on your hard disk.
- Click Import.
Import your iMovie Event Library
The project opens in the Timeline and any associated events appear in the Event Library.
- In Final Cut Pro, choose File > Import > iMovie Event Library.
- Read the message that appears and click OK.
The events in your iMovie Event Library appear in the Final Cut Pro Event Library.