This worked for me! I had a project go missing from an event. Completely gone from within FCPX (10.1). There was also a bright yellow alert triangle with the dreaded exclamation point attached to the event.
Nothing I did brought back my missing project. UNTIL I dragged the ‘CurrentVersion.fcpevent-journal’ file to the trash. Voila! My project reappeared.
Weirdness. Apple needs to address this issue, or at least alert FCPX owners of its existence.
So happy I found your suggested fix. Saved me 5 hours of having to recreate a 75-minute video in a new project timeline!!!!
Thanks bunches.
—Kevin Norberg
“May the Farce be with you.”