I am using the newest version of Vegas Pro. There is an option that allows for the import of a Final Cut project. Does this actually put the final cut project on the timeline and if so will it allow me to edit the project? What if the Final Cut project has effects and transitions, will they be brought into the time line?

I've only taken in one FCP project to round trip to Resolve to grade, so I'm not sure about what transitions and such are supported but it came in just fine on the timeline but there weren't any effects in the project. I've had basic effects come through with premiere pro projects just no third party stuff or the project won't even open and of course I'm round tripping with Resolve with the FCP XML but transitions don't really get transferred from Resolve.