Having the same problem here on the PC (Steam) version, using an Xbox controller. Had this happen several times now in ME1 and ME2, where Shepard will be facing a different direction than the 3rd person camera (sometimes backwards), while both in and out of combat, but it seems to occur more frequently at the times when weapons are out. It prevents taking cover and effective use of powers, since Shepard is pointing the wrong way even though the reticle is pointing at an enemy. Aiming down sights, using powers, going in/out of weapon power menus, etc don't seem to have any effect to cancel/correct it. After awhile it will snap back to the correct orientation, but not sure what triggers this. Also not sure exactly how to reproduce it, though perhaps it's a combination of movement along with getting in/out of cover.