Using the Pan Tool (ControlsGlobePanTool) on the GlobeControl causes the globe to shake while panning. This can be reproduced when using the template GlobeControl application provided with the ArcObjects .NET SDK.
A known issue causes the IGlobeControl.Navigate property to be true by default. The Pan Tool fires mouse events which both the Navigate functionality and the Pan functionality are handling. The event handling code for both Navigate and Pan interact with the globe camera, causing the display to wobble.
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