Alright, I'm stumped...
I have a bunch of stereo music clips. They used to load into the view with the pan set to 0 (balanced left/right). Now they all load panned -1. And if I set the pan to 0 and reload the clip it's back to -1
currently on a MacBookPro, using FCP 7.0.1, ProResLT from Firewire (4 TB of incredible footage) and a simple DVI out to the monitor- things are getting simpler.