I also notice this. After Camera 360 exists I can see that it is no longer running as it's not listed as a running app. in "Settings - Manage Applications". Also not listed in ES Task Killer.
Yesterday, I used Camera360 briefly in the morning and then exited. At the end of the day the "battery use" breakdown said that Camera 360 had used over 90% of the battery, but despite this my battery level at the end of the day was higher than at the end of most normal days. (Usually by 10pm it's down to below 20%, but yesterday it still had 40% remaining.)
My conclusion is that Camera 360 does not use excessive battery at all but perhaps corrupts the statistics that the "battery use" indicator displays. For me it's not a problem until I actually witness the battery running out earlier than normal. It does mean that you can't use the battery usage statistics though, which might be a problem for some people.