Hey guys, I thought I'd make this a separate post so that it's easier to find for anyone who might be having some issues.
The patches for the HD500 do not import directly into the HD500X Edit software at this time. They use different file formats. There is a work-around that I posted earlier, and is being passed around now.
All you have to do is change the extension on the patch files:
For individual patches, change the extension from .h5e to .5xe
For bundles, change the file extension from .h5b to .5xb
For setlists, change the file extension from .h5s to .5xs
I have found no inconsistencies among the patches from the HD500 Edit to the HD500X Edit using this method. I don't know if/when Line 6 will update the software to allow backwards compatibility, but in the mean time, you can use this method to get your 500 patches to your 500X.
Someone else mentioned that you can drag-and-drop individual HD500 files into the tone slots in the 500X Edit software. I can confirm that this works. You will still need to change the file names for set-lists and bundles, though.