Version 2 sounds to me as the probably reason for the ability of Cameras like the OM1-2 to go over 8 stops. Yes, it is probably not a simple task to measure the earths drift with the gyroscopes, but there is one thing that might help: the frequency of that drift is exactly known - it is the speed of the earths rotation. So it should be possible to tune a very narrow filter to that frequency and only analyze the gyroscope signal for that frequency. With that one could at least partially compensate for the drift.