Re: Vertical bands in Multiband and bad horizon in Smartblend. ???
Your multiband problem is a known one, those bands appear when you render a small pano, multiband is tweaked for large panos. In my experience multiband panos 4000px wide still have those bands, but 8000px dont, so try rendering it bigger. I hope that this bug can finally be fixed for 2.0.
Your smartblend horizon issue is not a bug, your control points are simply poor. Stitching water is always an issue. Delete existing CPs and try manually placing CP's on the water farthest away from you, just below the horizon. The closer, the worse. When done, hit Optimize. If its still funky, then manually align those shots using the Move tool.