I've seen this and similar videos before. They're presented usually without any context or commentary. In particular I've only ever seen heard people describi

I've seen this and similar videos before. They're presented usually without any context or commentary. In particular I've only ever seen heard people describing what they see live on the infrared camera display, not via eyeballs or other sensors. By my eyeballs this looks like a CMOS or whatever sensor clipping or processing artifact caused by sunlight glint on the camera housing dome. Google "blackmagic black sun" for a visible light example -- it happens and looks like an issue fixable (or caused) in software. The white extensions beyond the black blob are where the glinting is below the over-powering threshold. The "rotation" is where the camera and/or dome are rotating relative to the sun as the aircraft orientation changes and cleaning/buffing streaks in the dome are picking up the glint. The camera is clearly not pointing directly forward/aft during the footage, but I'm not sure where it is pointing. Note how the object stays dead-center below the tracking annotations -- autotracking is good, but I'm not sure it is that good, which again makes me think that the location is determined by camera geometry and is not something flying outside the aircraft.