An upcoming title update to Call of Duty: Black Ops 2 will re-enable the Theater Mode, after an exploit previously forced Treyarch to pull it. The Emblems were also disabled recently, but they were not mentioned as a returning feature in this update.
The announcement was posted on Activision's forums (via CVG). Films had been disabled when Treyarch discovered it was being used as part of a Prestige glitch. By viewing a particular demolition match repeatedly, ne'er-do-wells could easily get to 10th Prestige without doing the footwork to earn it. Once the update hits, players will be able to record and view matches again. Game design director David Vonderhaar also previously said that UAV score requirements are going up with the next update, to cut down on what a fan called "UAV spam."
If you're looking for your own tweaks to the experience in the meantime, Activision has published a troubleshooting guide aimed at helping players reduce lag in multiplayer matches.