Those that I've come in contact with (which, granted, aren't THAT many), both professional grade and cheap stuff from the DIY store has not had any calibration procedure described in the manual. I suppose if you take them appart you might be able to mechanicaly adjust the relationship between the leveling platform and the acceleromenter but, I have not seen any sort of "user calibration" on them.
You say it spins. When it does, is the laser actually on? That would be a bad thing if it's not actually leveled. I mean, sure it can THINK it's leveled but since the platform doesn't move the neither should the output from the accelerometer, yet it does sense when its being bumped.
Perhaps it's a manufacturing problem, putting the accelerometer on the board in the wrong orientation. Does it do anyting differently if try laying it down its side so it throws a line around vertically instead of horisontally?