Sorry, I realised after posting that details would be needed, so was going to look at this today - below is the mediainfo for a mp4 file from the camera.

If I try to drag this into timeline in MS14 it just shows no entry sign, and I cannot select open in trimmer (option just won't select).

If I start a new project and match media settings to this file I get the error "The number of channels is not supported". Looking at MediaInfo below it looks like there aren't extra channels as I suspected (audio?).

General
Complete name                            : P:\JamesData\Videos\171125Virb360GokartBikeTest\V0420052.MP4
Format                                   : MPEG-4
Format profile                           : Base Media / Version 1
Codec ID                                 : mp41 (mp41)
File size                                : 2.34 GiB
Duration                                 : 4 min 10 s
Overall bit rate mode                    : Variable
Overall bit rate                         : 80.3 Mb/s
Encoded date                             : UTC 2017-11-25 16:26:46
Tagged date                              : UTC 2017-11-25 16:26:46

Video
ID                                       : 1
Format                                   : AVC
Format/Info                              : Advanced Video Codec
Format profile                           : High@L5.1
Format settings                          : CABAC / 1 Ref Frames
Format settings, CABAC                   : Yes
Format settings, RefFrames               : 1 frame
Format settings, GOP                     : M=1, N=15
Codec ID                                 : avc1
Codec ID/Info                            : Advanced Video Coding
Duration                                 : 4 min 10 s
Bit rate mode                            : Variable
Bit rate                                 : 80.0 Mb/s
Width                                    : 3 840 pixels
Height                                   : 2 160 pixels
Display aspect ratio                     : 16:9
Frame rate mode                          : Constant
Frame rate                               : 29.970 (30000/1001) FPS
Color space                              : YUV
Chroma subsampling                       : 4:2:0
Bit depth                                : 8 bits
Scan type                                : Progressive
Bits/(Pixel*Frame)                       : 0.322
Stream size                              : 2.33 GiB (100%)
Title                                    : Garmin AVC
Language                                 : English
Encoded date                             : UTC 2017-11-25 16:26:46
Tagged date                              : UTC 2017-11-25 16:26:46
Color range                              : Limited
Color primaries                          : BT.709
Transfer characteristics                 : BT.709
Matrix coefficients                      : BT.709

Audio
ID                                       : 2
Format                                   : AAC
Format/Info                              : Advanced Audio Codec
Format profile                           : LC
Codec ID                                 : mp4a-40-2
Duration                                 : 4 min 10 s
Bit rate mode                            : Constant
Bit rate                                 : 320 kb/s
Nominal bit rate                         : 128 kb/s
Channel(s)                               : 4 channels
Channel positions                        : Front: L C R, Side: C
Sampling rate                            : 48.0 kHz
Frame rate                               : 46.875 FPS (1024 SPF)
Compression mode                         : Lossy
Stream size                              : 9.55 MiB (0%)
Title                                    : Garmin AAC
Language                                 : English
Encoded date                             : UTC 2017-11-25 16:26:46
Tagged date                              : UTC 2017-11-25 16:26:46

@jamesb72 I agree with you re: audio. Can you post a sample to try out to see if it is your system or the file type?

Updated later - Yes, it is 4 (multi) channel.

Thanks Mark, Test file is at link below - this is from virb edit but format is same as camera files (this was smallest file I have)

https://www.dropbox.com/s/oej78x9juiyd3m1/Test.mp4?dl=0

The 360 video is here, you can see its grainy/blurry:

My VMS14 is Build 148, check for news doesn't give any updates, just checked magix website and latest version is 14.0.0.148 so doesn't appear to be any newer ?

I downloaded the mp4 file. It plays fine outside of VMS 14 (148). I cannot drag it to the timeline (no error message). When I try using 'add media', I get the 'number of channels is not supported'. I also need to correct my earlier post - you do have 4 channels -

Channel(s)      : 4 channels
Channel positions     : Front: L C R, Side: C"

Still, as Cornico pointed out, they did fix the multichannel audio bug from the earlier build. It is probably worth submitting a request to Magix support.

Thanks Mark, I did try changing camera audio settings from spatial to rear to see if this made a difference, only but this still didn't allow file to import so I'm guessing the file format is the same just the channels are duplicated?

I've raised a request with Vegas support but won't hold my breath.

I returned the camera to Amazon as the 360 makes camera positioning/editing a lot of hassle and the quality is pretty grainy/blurry (as the 4k video is spread round the full 360 you are only seeing about 360p in your 'view window') - I can see it would be a fun thing to play with but the Garmin camera is too expensive for that, there is a Xiaomi 360 camera which is about 1/4 the cost (£140 vs £650) so I will keep an eye out for a decent price and try one of those maybe.

Thanks for updating the forum. I'm sure that someone else will also find your decision and info useful.

I logged this with Vegas support but got response below which I think is incorrect as I am already running the latest version available - Build 148 - I replied to email but get autoreply that responses are ignored ;)

"Thank you for your message.

This was resolved in a previous application update.  To download the update, log onto your MAGIX.com account. Then, click MyProduct and click the Installation program link. After the installation is complete, you will have the latest build.
--
Best regards,
************"

Has anyone solved the problem? I'm running Movie Sutdio 16.0 Platinum and get the same error when trying to import Garmin Virb 360 video. I see this post was originally using v14 and if there was actually a fix provided, you would think it would have been rolled forward into newer version.