This person says it best:
Individual Message:
http://www.creativecow.net/index.php?forumid=8&postid=110260726879078
Entire Thread:
http://www.creativecow.net/forum/view_thread.php?forumid=8&threadid=720351&...
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When you unplug a device, do you put the external video to off? This
could help.
AJA recommends shutting down FCP each time you want to capture from
your camera via FW because Quicktime can only use one FW video device at a
time. This makes me think that the Io isn't really compatible with DV
FW capture... it's a pain to have to restart FCP everytime you capture.
Maybe Apple will do something about this, but when?
for more info:
http://www.aja.com/support_Io.html#faq
they recommend using a FW switch. But I have no idea if it enables you
to switch devices without running the chance of crashing FCP.