How to edit Panasonic HDC TM-700/HS700 1080/60p & 50p AVCHD MTS videos on Linux&MacOS

Along with Panasonic HDC-TM700, there is another model Panasonic HDC-HS700, which also includes advanced 3MOS System and Leica Dicomar Lens. The major difference between HS700 and TM700 is that HS700 has much larger space for storing videos and pictures with 240-GB HDD and SD Card Slot. It is easy to shoot 1920 x 1080i High Definition video in HE mode or 1920 x 1080p full High Definition video in 1080/50p mode.

The 1080/50p mode for Europe and 1080/60p for US produce higher quality video comparing to other consumer camcorders with similar pricing range, but the saved 1080/50p and 1080/60 MTS is not AVCHD standard compliant. Avid Media Composer does not work with the Panasonic HS700 video footage very well.

Panasonic offers its own software HDWriter for Windows only. What a shame!!!!
How can I edit 1080/50p and 1080/60p MTS videos videos in Mac OS X or Linux?