So the store should say, go ahead with our products because we haven't had time to run the tapes back for your entire visit to the store.
Any competent Loss Prevention Specialist knows that probable cause is required to stop and detain some one and that refusing a post sales receipt check is not probable cause. To legitimately stop someone they need to observe the crime and the perp until they leave the store. If they don’t, they will not grab the person, since they know the legal ramifications if they are wrong. The problem is that few loss prevention types are pros.
The CC guys went well outside the law and will get hammered for it.
The store has the right to enforce the policy and get their product back if you refuse. It is a basic method of property protection.
As for arrest, they are subject to the rules of citizen arrests not the laws controlling police department.
When the cops respond, they will follow their guidelines if they take the person into custody.
It's heroic to some of you what this guy did, but it's contrary to the property rights of the big bad store.