The lack of seconds in the filename is indeed a major fail, since it results in lost downloaded files. Another nice to have feature would be more meaningful file names, so for example the files could be sorted by name and date at the same time. Any timestamped file should be named most-significant to least-significant digits, for example:
CameraName_YYYYMMDD_HHMMSS.mp4 (Note, 24 hour time - no AM/PM!)
And, as mentioned in other posts, the ability to download multiple clips at once (for example, from the Clip Roll) would be ideal. Sharing directly from the Clip Roll would be a bonus.
These seem like pretty simple features to add to the app, which would go a long way toward customer satisfaction.