The integration of Hitfilm 3 Pro from the timeline is not present in Magix Vegas Pro 14. So no right click on a clip to switch to Hitfilm 3 Pro to manipulate the clip. It ‘ll work with Hitfilm 4 Pro.
It is unlikely that FXHome ‘ll release an installer for the older Hitfilm 3 Pro in combination with Vegas Pro 14.
I managed to add timeline integration for the combination Hitfilm 3 Pro and Magix Vegas Pro 14.