There may be a better way of rotating the video but this is pretty simple. Start in Video Wave. In your production, add a color panel where you want to rotate the video. Now add the section of the video that was recorded "wrong" to the overlay track. Double click on the track in the overlay, a window will open. Select position and then rotate it the amount you want (90 degrees). Remember that you are turning a rectangular picture so it will not fill the display. Choose a color panel that would compliment the video.
I guess that I'm not confused. If the choice is greyed out, you do not have that option available. If you have a download version or if you have the disc version and have the 8.05 build/version, then you have the latest available at this time. For more information on that, contact Roxio directly.