@Russ - I don't see "Media Workspace" anywhere in the PC FTM 2005 SE application. Could you steer me toward that?
Or do you mean in the Mac FTM app? There's a tab for "Media" there. That must be what you mean. There are 663 media items. Yeah, in the lower-right it has "Filename and location" for the highlighted media item. The vast majority are red and have a name like "2097.jpg" or whatever. But a few are actually in that media folder.
Meanwhile, the media folder has 39 items. :(
So the migration from PC 2005 SE -> For Mac 2 lost 94% of the media files.
And your final comment about "find missing media files", there is that. If I go to open one of the thumbnails for a media item, it pops up with a window to either manually or automatically find that media file. (Of course they aren't on this Mac in my case.)