I'm not sure that you can capture PAL video from an NTSC camcorder, Muenkey. They're two very different video formats!
It does work. I have done it some time ago and it worked. Unfortunately, I don't remember how I did it.
I am with Steve, on not knowing how one might be able to do what you want, other than converting from NTSC to PAL. However, with PrPro 1.5, I would post to the PrPro CS4 and Earlier Forum, as many folk there do both PAL and NTSC work, and might have some nifty tips for you.