QT 7 was an optional install on the OS X Snow leopard disc. Installing FCP 7 automagically unlocked the Pro part of QT 7. If you don't have FCP 7, you can purchase a pro license. Apparently at one time or another, you bought both. Unnecessary, but is coming in handy now.
Thanks for your feedback guys. David, that was the link and info I was looking for. I had not loaded Qt7 on my newer MBPro before installing FCP7. Now it all works. Not that I use FCP 7 all that much anymore, but I hav legacy jobs on it, and sometimes I need to work with others. Thanks guys. Case solved.
wrt the second - qt pro is a separate app, so if it doesn't, you can always download it separately and install it. i don't recall if fcp installs it or not, but a license to it is not included - that i am fairly sure of.