I do not know if this is relevant to the current problem, but there is a compass in the THETA that sometimes needs to be reset. To do this, wave the the THETA in a slow, large figure 8.
From the owner's manual.
If the lamp is lit in red, the electromagnetic compass needs to be calibrated. Move the camera in a figure eight until the lamp turns blue.
Orientation information may not be recorded if a magnet or other magnetic item is placed near the camera. In such cases, it is recommended that you calibrate the electromagnetic compass by moving the camera in a figure eight before taking photos.
Also, try to reset the camera by holding down the power button for more than 8 seconds.
The THETA S has two video resolutions 1920x1080 and 1280x720. Make sure you have it set to the higher resolution.