FCP 7 on Yosemite and new Macs

FCP 7 still works, and can be installed on any new Mac even one which ships with Mac OSX 10.10 Yosemite, as this link shows...

FCP 7 on Mac OSX 10.10 Yosemite

I've tested this on new MacBook Pros, older MacPros, and new cylinder MacPros, iMacs, and FCP 7 continues to work. So, while Apple officially discontinued selling and even developing for FCP 7 (and Final Cut Studio), the software still works. Of course, any bugs or issues present in FCP 7 as of June 2011, will still be there and never get fixed.

I've found some issues in DVD Studio Pro like colours of buttons aren't visible in the drop down menu, and Cinema Tools is often unstable. But otherwise it works.

Blackmagic Digital Fusion the new compositing software

Eyeon Digital Fusion, a compositing and FX software, is now Blackmagic Digital Fusion. Its also free to download and use. Advanced features are in the paid version which is under Rs 65,000.

https://www.blackmagicdesign.com/products/fusion

Its for Windows only at the moment, but a Mac version might be possibly in the works. Or, maybe, compositing features might find their way into DaVinci Resolve. Let's wait and see.