Yep, you heard right. Wes Plate, owner and main guru at Automatic Duck was recently hired by Adobe. He and his dad have graciously decided that since they cannot support the product line anymore, they wanted to donate their products to the community. I know lots of users are still using FCP7 and Wes even has a few products for porting to FCPX. Just visit the Automatic Duck website and get what you need.
Cheers!