AppleInsider has pulled up a Patent filing from September 2002 which seems to represent a failed attempt or a future product from Apple.
Rotary Dial Mouse
The patent is a mouse design with a rotary dial; “The rotary dial is configured to provide a control function (or functions) for performing an action (or actions) on a display screen. [...] The control function may be widely varied. For example, the control function may be used to control various applications associated with the computer system to which the mouse is connected.”

Could be very effective for use in Final Cut Pro, acting like a freewheel to control the timeline.