Pete, good to know about stepping through your frames.
2) I mean dropping the FX on top of your preview window, not on the timeline anywhere. Doing it this way affects EVERYTHING on your timeline and is another way of getting a project wide FX happening.
Having said all this, I just realized what your problem is.
In your initial post you said:
I then right clicked on this new video track and selected Media FX – Sony Timecode.
In the Timecode box I selected:
Format SMPTE Film Sync 23.976
I’m not sure where you got that but the Film one comes up SMPTE Film (24 fps).
Set it to SMPTE Film IVTC (23.976 fps) and everything will match as expected 🙂
SMPTE Film timecode is true 24 fps, not 23.976.
I can easily explain the difference between drop frame and non drop frame video but this difference is a bit (ok, a lot) tougher.
Here’s what Wikipedia has to say about it.
Note that with 23.976 fps time code, the ‘second’ counter is still increased after 24 frames, even though 24 frames add up to slightly more than a real second. When working with other time sources, confusion can arise since a ‘second’ in 23.976 fps time code notation is slightly longer than a real second, it is 1.001001001..etc (24 x 1/23.976) seconds long. In other words, when a time code was reached of 00:16:40:00, this does not mean the video has played for 16 real minutes and 40 real seconds (1000 seconds), but that it has actually played for exactly 16 minutes and 41 seconds (1001 seconds).