thinking about this more, i think that zach is likely right. it is more likely a coordinate system issue. i notice that a lot of uav data is in wgs84. this can be nice because it avoids identifying what projection projects are in. but i have also seen that some uav data is in wgs84 but not lat longs (the error is showing that tbc is looking for global lat longs), and instead the uav data is in wgs84 grid (northing easting). this is a little confusing, but it seems like some gis software is ok with this. i don't fully understand how it is projected, but i believe some of the software uses a wgs84 projection, maybe others could chime in what is happening there. but we have had a hard time making a coordinate system in tbc to mirror this. this warning makes me think this is the case, if there is an associated file with the image you might be able to see for yourself and even convert it. around here, wgs84 to a utm system is about 1.2m which is pretty much what you are seeing.
i would disagree with zach about his descriptions about datums. there should be no right or wrong datum as long as you are consistent with your project and client needs. but yes, moving to more current datums would be nice(and a pain if you have historic projects).