Sometimes when you throw a Third Eye Camera the device will not leave the location from where you threw it leaving it floating in mid air. While it is in midair you can still detonate it but it does not work as a spotting device. I have noticed that this seems to happen following throwing the device and it not landing due to invisible walls or detonating it before it lands. Once you do this it will float in midair every time you attempt to throw it until the map changes. (even after deaths and respawns)
Here is a quick video showing the bug in action.