Are 16 bit images supported?
Additional 16 bit support was added starting with PanoTools.bundle 2.7KK24. Using PanoTools.bundle version 2.7KK24 or later will allow you to create 16 bit panoramas in most of the supported output file types except formats that don’t support 16 bits (e.g. JPEG, QTVR, etc.) and any of the layered PSD formats. In addition, input images cannot be cropped or masked by PTMac during stitching or they will be reduced to 8 bit images prior to stitching.