Do you want your overlay to spin around in a loop? I’m also guessing you want the overlay to spin from the middle, correct? If so you need to rotate it from anchor point 0.5 0.5 instead of 0 0
Here is more info on rotating overlays and anchor points
And if you want to loop overlay, you have to rotate it back to 0 then loop like this:
&overlay OVERLAYNAME rotates 360 anchor point 0.5 0.5 in [time] THEN overlay OVERLAYNAME rotates 0 anchor point 0.5 0.5 in 0 loop INFINITE times