Shouldn't Apple be able to handle iMovie?
Fisheyes are a blessing and a curse. Obviously, they cause a lot of distortion. Your best bet is to try to keep it level with the horizon so it doesn't bend our most obvious reference point. The biggest benefit is that with the ginormous field of view, they reduce apparent camera shake.
If you hate it, you have 2 options--
Crop to the center of the view, or run a filter that will stretch the corners out.
If you absolutely hate it, buy a replacement lens that has a narrower field of view.
Wholesale Product Snapshot Product name is CCTV lens, 1/2.5inch Board Lens 3.6mm monitor lens,No distortion of the lens, high-definition wide-angle lens
You will need to make more effort to reduce camera shake, but you'll have a lot narrower FOV without having to crop pixels.
This one is a direct replacement:
Wholesale Product Snapshot Product name is cctv lens, 1/2.5 Board Lens, 2.5mm monitoring lens, wide-angle lens, HD lens ,gopro lens, Optical lenses, megapixel Lens
From what I've read, you can change lenses on the H1 and 960. Not recommended on the H2 because with their higher pixel count, they are a lot more critical of both lens quality and lens focus. (You have to manually focus your lens when replacing--screw it in, take a video, check focus. Mark the lens, screw it in or out, check focus, repeat. Once you go past focus, go back to your last mark.) There are YouTube videos on removing, replacing, and focusing GoPro lenses.