If you have jitter, it has nothing to do with Ultimate S. Jitter usually comes from extremely high resolution stills. Be sure you are checking the "Reduce Interlace Flicker" check box, and be viewing the images at Best. Additionally, you might even want to add a touch of Supersample to the images.

You could do even better if you reduce your image sizes. Anything larger than 1440 x 960 is generally wasted for SD, and only creates more problems than it's worth.

Without using Ultimate S 2.0, manually apply a Pan/crop to the images, and you'll see the same jitter.