We have been editing our first long-form video, Flash Photography Introduction, in Final Cut Pro (FCPX) 10.1 for a week. We ran into having all of the audio sound effects missing. We found that if we quite FCP, opened iPhoto, close iPhoto, then re-opened FCP, the sound effects reappeared.
There have been all sorts of strange little bugs with FCPX 10.1. The worst was editing yesterday. The machine was grinding to a halt, so we closed FCPX and reopened it. Our edits from the entire day were gone.
And the automatic backup files were corrupted – they wouldn’t open.
No we snapshot a project prior to closing. It seems like 10.1 has quite a few bugs. Our recommendation is to wait for 10.1.1 if you can.