how does Avid work with fs07 timecode audio signal
Avid MC does support reading Audio-Timecode out of the box. But not every editor is familiar with Audio-Timecode and batch syncing in Avid. We have created a white paper wich explains how to deal with timecode synchronization.
You can find it here: http://www.tentaclesync.com/files/downloads/tentacle_sync_avid_media_composer.pdf