Resolve Lite first run - can't import FCPX XML?

I've installed Lite to have a first look at roundtripping from FCPX.

From what I can make out it should be a straightforward process to load a FCPX? When I try to load the XML I get the following message:

FcpXV1Video: invalid times in=86368 offset=245 duration=16

Am I doing something idiotic? I know I don't have a full recommended spec, but it should work (even poorly) to assess the product, shouldn't it?

Resolve Lite 8.2.1b
FCPX 10.0.4
OSX 10.7.4
2010 Mac Pro 2.8 Quad
ATI 5770
16GB RAM
SSD system drive
6TB internal software RAID

Thanks, Ian