There's a bug with chord detection using instrument tracks. I'm using the latest version of Studio One 5 Pro (updated a couple days ago).
The song key is set to Eb.
I have an instrument track playing very basic vi – IV – I – V chords, in the key of Eb that's Cm, Ab, Eb, Bb.
When trying to detect the chords based on the instrument track, the chord track came up with a bunch of weird chord names, including using sharps (for example G#maj7somethingorother). G# is NOT in the key of Eb, this makes no sense for the chord track to go this way.
On the other hand, I bounced the instrument track to a new track, and it detected the chord names perfectly from the new audio track.
So it seems the bug only exists on instrument tracks.