MC 8.5, Frame Flex, Winodws7, ISIS storage. 
I have Varicam 4K clips - AVC-Intra4K_LT / 29.97PN, overcranked 120fps.  .mxf files.   After linking, the bin's AMA Plug-in column reads PanasonicP2 MVP_MSP Plug-In.  For file type, I've tried both auto-detect and .mxf.  Both return the clips using the Panasonic plug-in. All clips play great. pushing into the 4K frame with Frame Flex works great.
However, the clips will not transcode, nor can I ex port a sequence made with 4k clips. "Exception: Movie export from procedures FAILED!, error code -2034"), I've tried this in various project types. Same result.

I figure there must be something that I don't know about using 4K. Can anyone give me a direction? Thank you!

no experience with your type of clips, but regarding exporting your sequence, have you tried:

output/AMA file export/MXFOP1a/DNXHR of your choice?

AMA file export also comes up with an error:  "AMEDeferredTaskExecute 09"

Are you in a 4K Project?

I've tried 4K and 1080.  No luck.

I see in your original post, you said the files wont transcode.
Have they AMA'd in with a data track?
Im finding more often than not this part corrupts for me with Sony XAVC clips, so my workaround is to AMA the clips in, then unlink them, modify them to remove the data track and any unwanted audio tracks, then relink them.
Thats get around a transcode error we get.
Is it worth you trying that?

They did AMA in with a data track. Sadly, you're workaround didn't work this time.

Does your sequence let you do a video and audio mix down of it?

in terms of transcode, what error appears in the console?

have you also tried to transcode a sequence with just one of your clips with just a video track, and then one with just an audio track. In short trying to see if it's video or audio related that's tripping it up.

did it work in a previous version of mc? Assume your p2 plugin is latest version