Thank you everyone who replied and helped out! In case anyone in the future comes across this post, here is the solution that worked for me, hope it works for you too:
1. In the Rokoko Studio, export the file as a .BVH not an .FBX
2. Import/Click and Drag the .BVH file into 3dxchange (must be the pipeline 3dxchange version)
3. Press "Convert To Non-Standard" on right panel
4. In the "Presets:" select "Maya Human-IK" If the button in top left hand corner of the Box goes from Red to Green, you're good. You may need to do a little bone mapping which is very easy and not scary, here is the tutorial Reallusion sent me if you need help with that, in this video skip the Facial Bone Mapping part. https://www.youtube.com/watch?v=JmTj6CS9c1c
5. Once #4 is done, select "Active" for the Tpose
6. Press Convert
7. In the top tool bar to the left, there are IC, FBX, BVH, OBJ quick export options, select the "iC" export, then select "OK"
8. In iClone (I'm currently using iClone 7) Go to your Motion Content, go to your "Custom" content and select the "Motion" drop down, that is where mine were being saved
Hope this helps anyone, thank you Reallusion and everyone who replied to help us make this happen! Good luck!