The Mac app transcodes all media as audio proxies (i.e. without video) by default

To turn on videos proxies, follow these directions.

Before adding your media, click on the purple + icon in the Drag and Drop box three times

Once clicked, a video emoji will appear before the words Drag and Drop.

To turn off video proxies, click + three times and the the video emoji will disappear.

Related Help Articles:

Best Practices for importing Multicam and Sync clips with the SS FCP X Extension
Can I translate my subtitles within the FCP Extension?
Export burnt-in subtitles/caption in FCPX
Exporting video proxies from your NLE to preserve timecode/framerate through to transcript export
Features of the Simon Says Mac app (a visual guide)
How can I use the transcript editor?
WYSIWYG Subtitle Editor

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