Hi, I am new to the COW but have 17 years experience.
I was in this situation one time, long ago when I was editing for an independent producer. In that case, the producer was concerned about the footage being sold from under him as stock. Work and ideas get stolen all the time. If you put yourself in his shoes, I think you can see his hesitation.
Keeping the relationship is always most important. Smile and let it go.
John Naughton
Silver Edge Productions LLC