I got the above formula by expanding the product $\prod_{k=1}^\infty{(1+e^{-(2k-1)\pi q+2\pi qz})(1+e^{-(2k-1)\pi q-2\pi qz})}^{-1}$ into the sum $\sum_{k\ge1}\frac{A_ke^{-(4k-2)\pi q}}{(1+e^{-(2k-1)\pi q+2\pi qz})(1+e^{-(2k-1)\pi q-2\pi qz})}$ and used the Heaviside cover-up method to calculate $A_k$.
$A_ke^{-(4k-2)\pi q}$ evaluates to\begin{align}
\lim_{z\to \frac i{2q}+k-\frac12}&(1+e^{-(4k-2)\pi q}+2e^{-(2k-1)\pi q}\cosh{2\pi qz})\prod_{n\ge1}\frac1{1+e^{-(4n-2)\pi q}+2e^{-(2n-1)\pi q}\cosh{2\pi qz}}\\
&=\prod_{n=1}^{k-1}\frac1{\left(1+e^{-(2n-1)\pi q+2\pi q(\frac i{2q}+k-\frac12)}\right)\left(1+e^{-(2n-1)\pi q-2\pi q(\frac i{2q}+k-\frac12)}\right)}\cdot\prod_{n\ge{k+1}}\frac1{\left(1+e^{-(2n-1)\pi q+2\pi q(\frac i{2q}+k-\frac12)}\right)\left(1+e^{-(2n-1)\pi q-2\pi q(\frac i{2q}+k-\frac12)}\right)}\\
&=\prod_{n=1}^{k-1}\frac1{\left(1-e^{-2n\pi q+2k\pi q}\right)\left(1-e^{-2n\pi q-2k\pi q+2\pi q}\right)}\cdot\prod_{n\ge{k+1}}\frac1{\left(1-e^{-2n\pi q+2k\pi q}\right)\left(1-e^{-2n\pi q-2k\pi q+2\pi q}\right)}\\
&=\prod_{n=1}^{k-1}\frac1{1-e^{2n\pi q}}\cdot\prod_{n=k}^{2k-2}\frac1{1-e^{-2n\pi q}}\prod_{n\ge1}\frac1{1-e^{-2n\pi q}}\prod_{n\ge{2k}}\frac1{1-e^{-2n\pi q}}\\
&=\frac{(-1)^{k-1}}{e^{\pi qk(k-1)}}(1-e^{-(4k-2)\pi q})\prod_{n\ge 1}\frac1{(1-e^{-2n\pi q})^2}
\end{align}
Then I plug this into the product $$\frac1{\sum_{k\in\mathbb{Z}}e^{-\pi q(k+z)^2}}=e^{\pi qz^2}\prod_{k\ge1}\frac1{1-e^{-2k\pi q}}\frac1{1+e^{-(2k-1)\pi q+2\pi qz}}\frac1{1+e^{-(2k-1)\pi q-2\pi qz}}$$ to get\begin{align}
e^{\pi qz^2}&\prod_{k\ge1}\frac1{(1-e^{-2k\pi q})^3}\sum_{k\ge1} \frac{(-1)^{k-1}}{e^{\pi qk(k-1)}}\frac{e^{(4k-2)\pi q}-1}{1+e^{(4k-2)\pi q}+2e^{(2k-1)\pi q}\cosh{2\pi qz}}\\
&=e^{\pi qz^2}\prod_{k\ge 1}\frac1{(1-e^{-2k\pi q})^3}\sum_{k\ge1}\frac{(-1)^{k-1}e^{-\pi qk(k-1)}\sinh{(2k-1)\pi q}}{\cosh{(2k-1)\pi q}+\cosh{2\pi qz}}
\end{align}
The second part of my formula follows from the imaginary transformation $$\sum_{k\in\mathbb{Z}}e^{-\pi q(k+z)^2}=\frac1{\sqrt{q}}e^{-\pi qz^2}\sum_{k\in\mathbb{Z}}e^{-\pi(k+iqz)^2/q}$$
To justify the calculations I only need to employ the identity $$\tfrac1{1+e^{-(4k-2)\pi q}+2e^{-(2k-1)\pi q}\cosh{2\pi qz}}\cdot\tfrac1{1+e^{-(4n-2)\pi q}+2e^{-(2n-1)\pi q}\cosh{2\pi qz}}=\tfrac1{e^{(2n-2k)\pi q}+e^{-(2n+2k-2)\pi q}-1-e^{-(4k-2)\pi q}}\left(\tfrac{e^{(2n-2k)\pi q}}{1+e^{-(4k-2)\pi q}+2e^{-(2k-1)\pi q}\cosh{2\pi qz}}-\tfrac1{1+e^{-(4n-2)\pi q}+2e^{-(2n-1)\pi q}\cosh{2\pi qz}}\right)$$ to separate the factors in the product $\prod_{k\ge1}\frac1{(1+e^{-(2k-1)\pi q-2\pi qz})(1+e^{-(2k-1)\pi q+2\pi qz})}$
I'm peeved that my phone sometimes makes $\LaTeX$ look too big and thus mixes it with my posts' plaintext. I can't say for sure it's a formatting issue or a bug.
(Edit) I've extended my approach to cover powers of theta functions:
For simplicity, I'll denote $\vartheta(z,q)=\sum_{k\in\mathbb{Z}}e^{-\pi q(k+z)^2}$, $A_k=(-1)^{k-1}e^{-\pi qk(k-1)}\sinh(2k-1)\pi q$, and $c_k=\cosh(2k-1)\pi q$. Now when I square $\vartheta(z,q)$, I multiply each term in $\sum_{k\ge1}\frac{A_k}{c_k+\cosh2\pi qz}$ by a term of the form $\frac{A_n}{c_n+\cosh2\pi qz}$ and so by partial fractions I'll get a series that looks like $$e^{2\pi qz^2}\sum_{k\ge1} \left(\frac{A'_k}{c_k+\cosh2\pi qz}+\frac{B_k}{(c_k+\cosh2\pi qz)^2}\right)$$ Now if I consider $u_n=c_n+\cosh2\pi qz$ I can then multiply it out to get $$\frac{u_n^2}{\vartheta^2(z,q)}=e^{2\pi qz^2}\left[B_n+u_n^2\sum_{k\neq n}\left(\frac{A'_k}{u_k}+\frac{B_k}{u_k^2}\right)+u_nA'_n\right]$$ and so if I divide out the exponential I'll have a polynomial in $u_n$ on the right hand side (as the sum does not have singularities at $u_n=0$) and thus can differentiate it at $u_n=0$ enough times to determine $A'_n$ and $B_n$. Higher powers will result in a series of the form $$e^{m\pi qz^2}\sum_{k\ge1}\left(\frac{D_k}{u_k}+\frac{E_k}{u_k^2}+\frac{F_k}{u_k^3}+\cdots+\frac{Z_k}{u_k^m}\right)$$ and similarly multiplying by $e^{-m\pi qz^2}u_n^m$ will produce a polynomial that can be differentiated to determine its coefficients. I'll post the calculations in a separate answer to not clutter this one.