Apple Final Cut Pro 5 - Manual (Page 1478)

Chapter 10 Importing and Exporting EDLs 127
II
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.
001 002 V K B 02:10:42:13 02:10:52:13 01:00:00:00 01:00:10:00
001 GEN V K 000 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.