I hear what you are saying about spelling and through "American" spell checker Fullscreen would be an issue. In England, Australia, Canada this joining of words is normal. Such as everything, anything, atleast, altogether, website etc. But I take your point we should be able to edit it at will.
Really there is no need for the Full Screen Bar to be in Flash .flv/.swf anyway. We don't need it in normal view and so it is not needed in fullscreen mode either. This is more obvious when you see a tour compiled by Pano2VR, Flashpanoramas, KRPano etc. You simply retain your existing menu or build an alternate version for the change state.
Give the user control via the Tourweaver interface and the problem is solved.