Hi
I am seeing this issue too. HD Hero3 black edition and Premiere Pro CS6 on Windows 7. I have tested several resolutions and frame rates and 720p 120fps is the only one it does not recognize. At first I thought it didn't like anything above 60 fps because I couldn't create a custom sequence above that. However when I use the other high framerate clips I tested such as the 848x480 240fps clip and the 1280x960 100fps clip, they display fine and when you create a sequence from them it carries over the correct framerate to the sequence settings.