I haven't tried this test, but will a GPS mark a waypoint if it doesn't have a lock? (YES) Where would it put that? (Last position acquired, Etrex) If he had a lock, even a really bad one, his error would still be measured in hundreds of feet, not several miles. (I've seen errors of a few miles on mine) If you lose the lock while marking a track, you will sometimes get widely erroneous track points, but that is not the same as an errant waypoint. If he had a mapping GPS, he would have seen where the truck waypoint was on the map, and seen that it was not in the right place. (Not necessarily)
I still think the more likely error was either or both: 1) he was trying to track back, and was under the mistaken impression that would point directly to the starting point, not route him back turn by turn over a route, which would explain why he thought the GPS direction was changing; and/or 2) the orientation on his GPS was not pointing to his line of travel when he was reading it, so the map was spinning around as he was spinning around. (I made that mistake a few times, till I figured out how to set the orientation to north)
I am not trying to judge him either. Both of those mistakes are easy to make and are confusing on GPS. I don't really like the trackback features, and seem to mess that up when playing my GPS. (I think most of his problem is he just can't admit he made a mistake.)