This goes here... Initially I thought this is a Blackmagic capture settings issue... So i tried capturing again. And i got a magical stereo track. No 16 channel glory this time. So I selected all 16 channels, logged the clip, selected the clip, hit Modify Clip Settings and changed that to stereo. Captured the clip and it shows up as stereo in the bin/browser, BUT when i opened the clip in QT, it shows up as 16 channels, when I reimport that clip into FCP, it shows up with 16 channels, goes into the timeline, and i can see all 4 channels active from the digital beta and the rest of the 12 channels are silent tracks.
Seems like an FCP issue. I'm on 6.0.3.
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