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Good analysis. Reminds me of the San Luis Valley and its proximety to the MTRs on the western end of the La Veta Military Operations Area. One has to wonder what exactly "we" are flying over OP training areas around remote regions of the planet...Interesting, but so far, there is insufficient information to draw a conclusion...If I were to hazard a guess, I'd say that at least some of the sightings involve RAAF maneuvers...So I suspect that a fair number of sightings other than this particular case can also be attributed to military exercises.
Don't know if I've ever seen footage quite like this. The dipping down, then up, then all over. To me it's reminiscent of the New Zealand newsteam footage on the postal run. Very interesting. There are certainly a lot of things that are ruled out anyway.