You'll need to yrotate your bullet the same amount as your camera rotation, and then xrotate it as well (if you have free looking on). This probably won't work with the dodgy rotation commands. You could always try rotating the bullet to zero, and then turning it right and pitching it up or whatever. You'll also have to move the sphere so it isn't sticking out the back as well.
Um...
yrotate object bullet, camera angle y()
xrotate object bullet, camera angle x()
position object bullet x#+(sin(camera angle y())*sin(camera angle x())*400000),y#+(cos(camera angle x())*400000),z#+(cos(camera angle y())*sin(camera angle x())*400000)
That's almost certainly not right, I just made it up and haven't tested it (due to the trial version running out). Surely if you have a bullet collision that big, you'll be able to shoot multiple enemies and through walls.