This sub-modality represents a continuum between a picture and a movie that resides in a frame, just as if you were watching a movie on your television screen (which must have a frame) or glancing at a picture on your wall, which might also have a (wooden?) frame.
For most people I’ve met, the difference in the experience is that they consider the panoramic type (the movie or picture stretched across your field of vision without a distinct border) to be more “realistic” and the framed type to be more metaphoric. In addition, I did notice that many people use the framed mental picture or movie for planning the future and the panoramic for most of their memories.
If you do that differently, though, there is nothing wrong with that! I will be happy to hear your discoveries on this subject of sub-modalities.