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You could try this tool to see if it will convert the TC of the XML to the correct format. No promises this will work. But worth a try. Use the TC Convert Tab. And select XML from the file type in the search box.
Thanks Rob. Sadly it doesn't open fcpxml files.
I purchased XtoCC, but I found a bug in the way it converts markers and chapters. I'm assured this will be fixed in the next update (my version is 1.2.11), so this app should do the trick in future. :)