That looks like you want to use standard subtitle text file, as used in commercial subtitling for the deaf operations (they subtitle thousands of hours of tv footage per week), or in the fansubbing field. Both rely on storing subs as text files.
Might be better to go ask on a fansub website how to feed a text file to FCP.
One thing I've noticed is subtitling programs work much better on Windows than on OSX (the fansub devs all have PCs).
I wouldn't expect FCP to accept a Word file - you need a plaintext file, or maybe a csv flatfile from a database. The data will look something like this:
timecode,[position],[other info],subtitletext
timecode,[position],[other info],subtitletext
timecode,[position],[other info],subtitletext