Well,Obviously at this stage all is an opinion; but I saw the clip on the news and my first thought was pilot incapacitation. He had done a series (a lot) of snap rolls on a descending 45 line, climbed up and entered the flat spin. At best it looked like it was exiting the spin on its own (not a normal exit to a spin where its stopped by the pilot) when it entered the water.
I remember that part of his show during one of the CASPA events (Dayton or Oshkosh, not sure) and thinking that has to cause a good headache.
We just need to keep his family in our prayers.
Dave Hamblin
(formerly DaveH on old site!)