Big break through guys. Looks like the camera is finally working through a simple build.prop edit. If you're on 03082012, all you have to do is change one line.
In the build.prop, go to the line that says "ro.media.capture.classification" and change whatever is written there to either classD or classE. classD didn't work for me, but classE did.
Not sure if the stock camera app works, didn't give it a shot yet. However, Camera MX is definitely working, lgCamera, and HDR Camera is working as well. Just tested those three. Not sure if anybody is still following this ROM, but there you go.