Final Cut Pro Academic Version Is not fully functional!

Could someone tell me if Final Cut Pro Academic is really functionally? I bought final cut pro academic and it appears that the program color does not work. The viewer in color doesn't work. Apple states that the only difference between academic and the normal version is that the academic version version is a non-upgradable version. But I don't believe this. I believe that you have to buy the standard version to get the full features. Could someone one tell me this is not so.

The academic version is Functionally 100% exactly the same. There are no differences feature wise.
The only difference is you can't use an upgrade with that serial #.

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