Not everything translates over.
I was able to get things like Marker Clips and Subclips from FCP 7 to Premiere CC by creating sequences in FCP 7 that had all the media in them, and bringing them over that way.
Example:
Lets say I have 100 marked clips/subclips in my FCP 7 bin. Those won’t come over.
BUT if I drag them into a blank sequence, and import that sequence in CC, they will… in a way…
Sequences are your friend in the translation game between FCP 7 and Premiere CC.