AFAIK AAT won't read Cubase project files.
You have to save them from Cubase as OMF or S-xml.
Your questions are answered on the website.
Quote:
Does AATranslator convert everything?
The short answer is no.
DAW/NLE capabilities vary so enormously that a complete conversion between every session format is impossible.
We do convert far more detail than any session conversion program has offered so far but we do not convert either plugins/fx or midi.
Our focus is audio plus one or more video tracks (download our conversion guide for more detail).
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