I bought the same software, had the same problem with it. This software does not create a file structure. It only recovers files. (This is expectable of file recovery software. It does not create a disk image.) I have not been able to get FCP 7 to recognize the data yet, but did get insight to how it might be done. Maybe someone can add to this and make this software actually useful. I spent 125 on it and no dice yet.
First I checked a folder containing a download from a known good P2 card, and noted the file structure.
I recreated the “Contents” folder and all of the folders within it.
Next I sorted the MFX files by size and moved all of the ones measured in “k” to the AUDIO file, and put all the ones measured in megabytes in the VIDEO folder. (I had discovered that the beginning of the MFX file names repeated several times, and guessed that the smaller files in each set were audio tracks.)
Using the known good folder as a template, I put the XML files in the CLIP folder, and the bmp files in the ICON folder.
Next I looked for a txt file. There was only one, with a long alphanumeric name. Assuming it to be the “LASTCLIP.TXT” file, I tried first moving it into the new main folder, at the same level as the CONTENTS folder. When FCP did not recognize all of this, I changed the txt file to read LASTCLIP.TEXT. FCP still did not recognize the folder.
Maybe someone has information that will complete this picture. If not, an expensive reshoot.