This is a promising addon, but unfortunately does not work very well at all. For example, if you add more than one of these blocks anywhere in your site, when you set up a new picture in the second one, it replaces that back in the first one as well (in other words, you can only have a single panoramic image across the entire site). Also check out the discussion board to see other problems people have had with this addon:
http://www.concrete5.org/marketplace/addons/panorama-viewer/questio...

You will also notice that the author has abandoned this project because none of the questions or problems have been answered or addressed.