A video on YouTube showed that a cheat/debug mode is present in the game. To access this mode, you must be playing one of the levels. Press Select to bring up the Alert menu, then press the Left and Right shoulder buttons and the Select button all together. Exit out of the Alert menu and press the Left button to bring up the Cheat Mode display. Here, you can see information such as co-ordinates, FPS and CPU usage. Certain buttons now have specific functions:
Left shoulder button - turns Cheat Mode display on and off
Right shoulder button - turns grid display on and off
D Pad - zooms in and out, and moves camera to the left or right
Triangle - pan up
X - pans down
Square - pans left
Circle - pans right
Start - cycles through the different objects and ships on that level (the D Pad and camera pan controls can be used to look at these from different angles)
Select - if used when looking at an object, it will return you to the default ship and you will have that one under your control again (this will exit Cheat Mode, but may leave the debug display info visible). If used when looking at another ship, it will allow you to fly that ship, with full use of weapons etc.