Oooooooooooooooh damn! That was smooth! 
Not only did it work as expected but as I had the same name for the group channels in the old and new templates all of it was based on Cubase assigned the Tracks to the right Groups and Output Busses. 
Me likey!
Now this happened to be at the start of the Project so it’s still just a few tracks but this ought to work on large projects as well.
Then it’s not such a pain to move stuff around anymore … hmmm 
Yep, it’s handy for sure. Hopefully in the ‘v2’ they will enable us to import Group/FX tracks.
What would be REALLY good is to import a track and have the option to include all tracks that it was routed to. e.g. import some drum tracks and it will automatically import all the relevant group tracks with compression, EQ etc. so you have your complete drum mix imported. THAT would be great!
Then again … somewhere along the line you get to a point where it’s easier to rename the old project and delete a few Tracks and go from there instead of creating a Frankenstein feature that’s prone to malfunction? 
Haha. Yep I hear you. Sometimes though, I’ll have two different projects and I think, ‘I wonder what the drums from project A would sound like with the music from Project B?’. And then I think of all the time/grief that it would take to achieve this and I don’t bother to find out! Would be great to have a quick solution to such a problem.
YES! It’s at least doable now! Instead of wasting time on something you’re not sure will fit together even if it technically works you now just try it and if it doesn’t fit then you only lost say half a minute to three minutes instead of half an hour or more. So under 10 minutes you can try several silly ideas that won’t work instead of trying for several hours just to find out … it doesn’t work 
So eventually you’ll find something that fits!