Do you have any sort of filter on the camera lens? Remove it.
It is possible that it is too far back which would allow ambient light collected by the edges of the lens to bounce off it and be reflected back into the lens. Try to block anything reflective around the lens, including anything shiny that's visible looking through the w/a lens from the outside.
Is it a clear(in focus) reflection? What camera do you have? Is it one of the Sony's with the flash built in to the lip of the lens like the HC3 (imo a similar problem to yours waiting to happen)
I suppose it's possible that something is just misaligned, either the front face of camcorder lens or one of the w/a lens elements. I don't know how to tell that though.
You might try removing the w/a lens and seeing if you get the same result with the standard port.
And is it all the time or just at very wide angle settings? Can you make it do it now in a bright pool or similar setting?
I once had a similar reflection with my old housing, but it only happened once. The only thing I can think of that caused it was that I didn't have the front of the camera perpindicular to the lens. The next time I loaded the camera, it was gone.
You may have a similar alignment problem. Didn't O/I set it up for you? Might want to call them and send it back...
Grab a still and e-mail it to me so I can see the problem,