I can only go by what I've seen, but there has already been footage shown of a few Olympians getting their gongs. A bit of a mixture of people getting them pinned on, and interviews afterwards, or sometimes just footage of them posing for the photos with their guests. You never see audience reaction, nor is there any sound.
I think it would be odd if Andy were to deny the rights to show him getting the award, as he's already a public figure, and it's about recognising the value of sport, so would be a bit of a snub to those who nominated him. It defeats the purpose if you want to do it on the quiet. I'd think that particular condition is only normally relevant to people who aren't already public figures, in particular the people who work at MI5 who need to keep a low profile for obvious security reasons.
How much, if anything, is shown on the news will depend on what else is happening that day. Quite a lot of attention was given to the first round of investitures for the Olympians, but I think that was because it was the first lot, and they were able to make a feature of the event.
This news article from February has a video showing the kind of footage that is available. http://www.bbc.co.uk/news/uk-21612386
I remember on the actual news, they showed more interviews with recipients, and only little bits of the ceremony.
Thanks for the video Sparkle. Presumably there's no recording of what's said during the ceremony is because what passes between HM and the recipient is, quite rightly, regarded as a private conversation. If people choose to repeat what was said, that's up to them. I remember Andy though saying after he met the Queen at Wimbledon simply that "it seemed to go OK" when questioned by journalists.
I think you're right too about Andy probably not denying the media the right to show him getting the award, or being interviewed afterwards, especially given that last year he created history for British tennis on three occasions and has done so much to raise awareness of the sport. It'll be interesting though to see if the BBC or ITV show it on the national news as opposed to just on the Scottish news - but again, as you say, a lot will depend on what other news stories are around on that day.