The video did virtually nothign to explain the cente section other than where the colors come from, yet thats where the propellor theory is based on. If I remember correct, i used to have a VHS tape that BMW sent me once and it illustrated the blue and white as the propellors. It didnt look like the image in this video. It had proppelors rotating in several positions between the 2 blue sections. BMW used to send me this video every time I bough a new bike from them. This is where I learned of the propellor idea.
"The most terrifying words in the English language are: I'm from the government and I'm here to help." Ronald Reagan
There is no question the Blue/White is based on the colors in the Bavarian Flag. I think since, as the video states, the first time the logo appeared, it was on a manual that described their aircraft engines, the divided circle in fact does represent a spinning aircraft propeller, as it would appear when spinning in the sunlight. No myth as far as I'm concerned.