[Motorola Atrix 2] alteredlikeness:
Well, I found a crappy fix for the rear facing video.. I dropped the unsupported preview sizes (720p and 480p) from the media_profiles.xml for that camera, and put back "vga" (640x480).

Relevant log:

I/CameraClient( 175): Opening camera 1
I/CameraHal( 175): (400e9154) device/motorola/omap4-common/camera/CameraHal_Module.cpp:639 camera_device_open - camera_device open
V/CAM_VideoModule( 1623): mDesiredPreviewWidth=1280. mDesiredPreviewHeight=720
V/CAM_VideoModule( 1623): Video Encoder selected = 2
V/CAM_VideoModule( 1623): Audio Encoder selected = 3
V/CAM_VideoModule( 1623): startPreview
D/CAM_VideoModule( 1623): Preview dimension in App->1280X720
E/CAM_VideoModule( 1623): Video dimension in App->1280x720
W/Util ( 1623): No picture size match the aspect ratio
V/CAM_VideoModule( 1623): Video snapshot size is 640x480
V/CAM_VideoModule( 1623): Color effect value =none
V/CAM_VideoModule( 1623): DIS value =disable
V/CAM_VideoModule( 1623): Video HDR Setting =off
D/Util ( 1623): Parameters: [antibanding-values=off,auto,50hz,60hz, antibanding=auto, auto-convergence-mode-values=, auto-convergence-mode=frame, auto-exposure-lock-supported=false, auto-exposure-lock=false, auto-whitebalance-lock-supported=false, auto-whitebalance-lock=false, brightness=50, camera-name=UNKNOWN_SENSOR, contrast=100, current-iso=100, effect-values=none,negative,solarize,sepia,mono, effect=none, exif-make=Motorola, exif-model=MB865, exposure-compensation-step=0.1, exposure-compensation=0, exposure-mode-values=auto, exposure=auto, flash-mode-values=off, flash-mode=off, focal-length=4.60, focus-distances=Infinity,Infinity,Infinity, focus-mode-values=off,infinity, focus-mode=infinity, gbce-supported=false, gbce=false, glbce-supported=true, glbce=false, horizontal-view-angle=54.8, ipp-values=off, ipp=off, iso-mode-values=auto,100,200,400,800, iso=auto, jpeg-quality=95, jpeg-thumbnail-height=120, jpeg-thumbnail-quality=60, jpeg-thumbnail-size-values=640x480,160x120,200x120,320x240,512x384,352x144,176x144,96x96,0x0, jpeg-thumbnail-width=160, manual-convergence=0, manual-exposure-right=1, manual-exposure=1, manual-gain-iso-right=100, manual-gain-iso=100, max-exposure-compensation=30, max-num-detected-faces-hw=35, max-num-detected-faces-sw=0, max-num-focus-areas=20, max-num-metering-areas=20, max-zoom=60, mechanical-misalignment-correction-supported=false, mechanical-misalignment-correction=true, min-exposure-compensation=-30, mode-values=high-quality,video-mode,high-performance,high-quality-zsl,zoom-bracketing, mot-led-flash=100, mot-led-torch=100, picture-format-values=unused,yuv420sp,yuv420p,yuv422i-yuyv,rgb565,bayer-rggb,jpeg, picture-format=jpeg, picture-size-values=640x480,320x240, picture-size=640x480, preview-format-values=yuv420sp,yuv420p,yuv422i-yuyv,yuv420p, preview-format=yuv420sp, preview-fps-ext-values=5,10,15,20,24,30, preview-fps-range-ext-values=(5000,5000),(10000,10000),(15000,15000),(20000,20000),(24000,24000),(5000,30000),(30000,30000),
D/Util ( 1623): Parameters: preview-fps-range-values=(5000,5000),(10000,10000),(15000,15000),(20000,20000),(24000,24000),(5000,30000),(30000,30000), preview-fps-range=30000,30000, preview-frame-rate-range=30000,30000, preview-frame-rate-values=5,10,15,20,24,30, preview-frame-rate=30, preview-size-values=640x480,320x240,352x288,240x160,176x144,160x120,128x96,480x640,288x352,240x320,160x240,144x176,120x160,96x128, preview-size=1280x720, raw-height=480, raw-width=640, recording-hint=true, rotation=270, s3d-cap-frame-layout-values=none, s3d-cap-frame-layout=none, s3d-prv-frame-layout-values=none, s3d-prv-frame-layout=none, saturation=100, scene-mode-values=auto,landscape,night-portrait, scene-mode=auto, sensor-orientation=0, sharpness=100, smooth-zoom-supported=true, supported-manual-convergence-max=100, supported-manual-convergence-min=-100, supported-manual-convergence-step=1, supported-manual-exposure-max=125, supported-manual-exposure-min=1, supported-manual-exposure-step=1, supported-manual-gain-iso-max=800, supported-manual-gain-iso-min=100, supported-manual-gain-iso-step=100, supported-picture-sidebyside-size-values=, supported-picture-subsampled-size-values=, supported-picture-topbottom-size-values=, supported-preview-sidebyside-size-values=, supported-preview-subsampled-size-values=, supported-preview-topbottom-size-values=, ti-algo-external-gamma=false, ti-algo-gic=true, ti-algo-nsf1=true, ti-algo-nsf2=true, ti-algo-sharpening=true, ti-algo-threelinecolormap=true, vertical-view-angle=42.5, video-frame-format=OMX_TI_COLOR_FormatYUV420PackedSemiPlanar, video-hdr=off, video-hfr=off, video-snapshot-supported=true, video-stabilization-supported=false, video-stabilization=false, vnf-supported=false, vnf=false, whitebalance-values=auto,daylight,cloudy-daylight,fluorescent,incandescent, whitebalance=auto,
D/Util ( 1623): Parameters: zoom-ratios=100,104,107,111,115,119,123,127,132,137,141,146,152,157,162,168,174,180,187,193,200,207,214,222,230,238,246,255,264,273,283,293,303,314,325,336,348,361,373,386,400,414,429,444,459,476,492,510,528,546,566,586,606,628,650,673,696,721,746,773,800, zoom-supported=true, zoom=0]
E/CameraHal( 175): (400e9154) device/motorola/omap4-common/camera/CameraHal.cpp:582 setParameters - Invalid preview resolution 1280 x 720
I/CameraClient( 175): Destroying camera 1

Changes to media_profiles.xml:

</CamcorderProfiles>

<CamcorderProfiles cameraId="1">
<!--
<EncoderProfile quality="high" fileFormat="mp4" duration="60">
<Video codec="h264"
bitRate="10000000"
width="1280"
height="720"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />

</EncoderProfile>

<EncoderProfile quality="low" fileFormat="mp4" duration="30">
<Video codec="h264"
bitRate="500000"
width="320"
height="240"
frameRate="15" />

<Audio codec="aac"
bitRate="64000"
sampleRate="44100"
channels="2" />

</EncoderProfile>
-->
<EncoderProfile quality="720p" fileFormat="mp4" duration="60">
<Video codec="h264"
bitRate="10000000"
width="1280"
height="720"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />

</EncoderProfile>
-->
<EncoderProfile quality="480p" fileFormat="mp4" duration="30">
<Video codec="m4v"
bitRate="6000000"
width="720"
height="480"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />
</EncoderProfile>
<!--
<EncoderProfile quality="vga" fileFormat="mp4" duration="30">
<Video codec="h264"
bitRate="4000000"
width="640"
height="480"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />
</EncoderProfile>

<EncoderProfile quality="cif" fileFormat="mp4" duration="30">
<Video codec="h264"
bitRate="1500000"
width="352"
height="288"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />
</EncoderProfile>
...

Changed to:

</CamcorderProfiles>

<CamcorderProfiles cameraId="1">
<!--
<EncoderProfile quality="high" fileFormat="mp4" duration="60">
<Video codec="h264"
bitRate="10000000"
width="1280"
height="720"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />

</EncoderProfile>

<EncoderProfile quality="low" fileFormat="mp4" duration="30">
<Video codec="h264"
bitRate="500000"
width="320"
height="240"
frameRate="15" />

<Audio codec="aac"
bitRate="64000"
sampleRate="44100"
channels="2" />

</EncoderProfile>

<EncoderProfile quality="720p" fileFormat="mp4" duration="60">
<Video codec="h264"
bitRate="10000000"
width="1280"
height="720"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />

</EncoderProfile>

<EncoderProfile quality="480p" fileFormat="mp4" duration="30">
<Video codec="m4v"
bitRate="6000000"
width="720"
height="480"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />
</EncoderProfile>
-->
<EncoderProfile quality="vga" fileFormat="mp4" duration="30">
<Video codec="h264"
bitRate="4000000"
width="640"
height="480"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />
</EncoderProfile>
<!--
<EncoderProfile quality="cif" fileFormat="mp4" duration="30">
<Video codec="h264"
bitRate="1500000"
width="352"
height="288"
frameRate="30" />

<Audio codec="aac"
bitRate="128000"
sampleRate="44100"
channels="2" />
</EncoderProfile>

Attached is a copy of the edited media_profiles - just drop the .txt and move to /system/etc with 644 permissions.. And, yea, this is just a work-around until it gets figured out.