I can confirm (through test) that FCPX now supports the Varicam LT codec. If you havent updated Id suggest doing so.
Please be aware that it defaults to process all Panasonic V - Log to rec.709. To turn that off
> go to video meta data viewer by clicking info in the panel to the right of the clip viewer
> at the bottom left of box is a drop down that says basic click on it and choose settings
> in the panel you can now choose the log processing drop down and choose none.
Additional note: FCPX now supports HDR.

Please be aware that it defaults to process all Panasonic V - Log to rec.709. To turn that off
> go to video meta data viewer by clicking info in the panel to the right of the clip viewer
> at the bottom left of box is a drop down that says basic click on it and choose settings
> in the panel you can now choose the log processing drop down and choose none.
Additional note: FCPX now supports HDR.
