Apple Final Cut Pro 7 - Manual (Page 1613)

This option is useful for exporting separate EDLs, one at a time, for each video track above
V1.
When this option is deselected, Final Cut Pro includes keying (K) events. Video track V1
is treated as the background layer and track V2 as the foreground layer of the key effect.
The following event refers to the first text generator clip in the sequence shown above.
001002VK B02:10:42:13 02:10:52:13 01:00:00:00 01:00:10:00
001GENVK000 00:00:55:00 00:00:55:00 01:00:00:00 01:00:00:00
This option does not affect audio track export.
Omit Transitions
Check this box to ignore all transitions in your sequence so the EDL contains cuts only.
This keeps your EDL as simple as possible, so transitions won’t complicate your online
session. The online editor can create the necessary transitions.
1613 Chapter 96 Importing and Exporting EDLs