How to edit 360º VR video in Final Cut Pro X

I just recently purchased a Theta S (the same camera they are using in part 1), and these videos have been tremendously helpful. 360º video is the future so it is a must to learn everything I can about how to edit this format now so I am not behind when it takes off and goes mainstream, or all videos are in 360º.

I also included some 360º footage below, I uploaded the file to my Google Drive account, feel free to download it and open it up in Final Cut Pro X to play around with it.

The MacBreak Studio in 360º

Download sample footage;