I dont know if this is helpful. But this is what I have done.
Make a panorama on the regular way.
Convert it in to a video (new function in TW2) and finally embedded in the video.
I have play with panorama video a couple of months ago (in realviz), and produced this video.
To view the panoramas, used in this video, look @ http://www.dd-web.nl/stjanstest