I found a bug in theater, but I don't know if it's been reported yet. I tried posting it on the CoD forums, but my login messed up, so basically, can someone get this message through? Basically, what I found was that if you record game footage that has you being flashbanged or stunned, the effects will not appear if you upload the clip to file share.
EDIT: Oh yeah, another thing. Sometimes when recording a clip and uploading it to the file share, the HUD will disappear except for the score, even though in the preview, there was a minimap and all.