Checked out my Connected Drive account online and saw/added the Drive Recorder.
To get it to show immediately, in the X5, went to Apps and while over "Installed Apps" I pushed Options (physical button by your iDrive controller) and hit Update Apps.
After a quick install, the Drive Recorder Icon appeared and I went through the setup.
I have it set to record manually (when the panoramic camera button is held down) and also automatically (when it detects an accident). 20 seconds before and after for a maximum total of 40 seconds per recording.
Tested this out right away and I'm happy with it. I'll have to check it out during some night driving, but here are some interesting observations I've already made:
1) It said during setup that you would get the best recording quality if you were recording only two cameras at a time instead of all four.
2) If you record while you have Park Assist enabled with surround view on, it will capture exactly what you're seeing on screen. This includes the backup camera and the overhead view along with parking and maneuvering lines moving around.
3) If you export to a USB drive, the video is in MPEG-4 format, 1280x960 resolution at 15 frames per second.
4) It also exports a text file encoded in JSON (per video) which contains the date, time, speed and latitude/longitude.