my imported photoshop files on FINAL CUT PRO have a limit for 12 seconds for some reason, how do i change this?

Go to the FCP menu and choose user preferences. Click on the Editing tab and enter any value you desire for "still/freeze duration".

To change an existing clip, highlight it on the timeline and choose Modify > Speed, then enter a new value.

Photoshop files are regarded as a sequence by FCP. You can change the length of this sequence by opening it, and changing the length of each track (aka Photoshop layer).

Save your files as PNG if you do not actually need access to the different layers. PNG files can be easily lengthened by dragging.

I'd have to look at this again, but IIRC .psd files with multiple layers will open up as sequences in FCP with the layers on separate tracks, however flat .psd files will open as clips. Either way, I think the preference setting I mentioned determines the default length of the clip or sequence.

... however flat .psd files will open as clips.

Confirmed. Thanks Body, I learned something new today.

thanks guys!