I tested an export to XML and then tried to use the conversion tool , but it came up empty. The details panel on the tool reported 430 Features written to spreadsheet but there is no data on any of the tabs in the file.
Additionally, I could export Feature Definitions and Symbologies plus Element Templates. But in a new file, I could only import the Feature Symbologies and Element Templates. The Feature Definitions would not import and there was no error messages.
Finally the conversion tool did successfully write the Feature symbologies to an Excel Spreadsheet.
This would be really great to know. Thank you for asking.