PaulBlart I might not be understanding you but I can grab and move around my video on the fly in the same exact manner as I can my menu. I can't recall the name of the setting but I have it set so when I hold the trigger on my controller I can then drag the whole viewing dome around and then zoom in/out with my thumb stick.
If I didn't have this controller set up it would be very annoying to adjust every video.
Added: After reading your post again I'm pretty sure my response is not what you are talking about.