The shading is done on the basis of the bounding box, see e.g. here. A circle is constructed from Bezier curves, and this means that its bounding box changes under rotations. As you can see, the circles are not vertically aligned either, for the same reason. Once you fix the bounding box, the effect is gone.
\documentclass[varwidth,margin=0.5cm]{standalone}
\usepackage{tikz}
\usetikzlibrary{bbox}
\begin{document}
\pgfdeclareverticalshading{myshade}{2cm}{
color(0cm)=(red);
color(.3cm)=(orange);
color(.6cm)=(yellow);
color(.9cm)=(green);
color(1.2cm)=(blue);
color(1.5cm)=(purple);
color(1.8cm)=(brown)
}
\begin{tikzpicture}[bezier bounding box]
\begin{scope}[rotate=26.73]
\draw [shading=myshade] (0, 0) circle (1);
\end{scope}
\end{tikzpicture}
\begin{tikzpicture}[bezier bounding box]
\begin{scope}
\draw [shading=myshade] (0, 0) circle (1);
\end{scope}
\end{tikzpicture}
\end{document}

If you want to rotate the shading, change the shading angle. (You can also use transform canvas but this is sometimes a bit hard to tame.)
\documentclass[varwidth,margin=0.5cm]{standalone}
\usepackage{tikz}
\usetikzlibrary{bbox}
\begin{document}
\pgfdeclareverticalshading{myshade}{2cm}{
color(0cm)=(red);
color(.3cm)=(orange);
color(.6cm)=(yellow);
color(.9cm)=(green);
color(1.2cm)=(blue);
color(1.5cm)=(purple);
color(1.8cm)=(brown)
}
\begin{tikzpicture}[bezier bounding box]
\path (0, 0) circle[radius=1];
\begin{scope}[transform canvas={rotate=26.73}]
\draw [shading=myshade] (0, 0) circle[radius=1];
\end{scope}
\end{tikzpicture}
\begin{tikzpicture}[bezier bounding box]
\begin{scope}
\draw [shading=myshade,shading angle=26.73] (0, 0) circle[radius=1];
\end{scope}
\end{tikzpicture}
\begin{tikzpicture}[bezier bounding box]
\begin{scope}
\draw [shading=myshade] (0, 0) circle[radius=1];
\end{scope}
\end{tikzpicture}
\end{document}
