Right off the bat, I have to say two things: I haven't even downloaded cameyo yet, and this post is going to be kind of all over the place.
Anyway. It seems like cameyo (or an offshoot of it) could be used as a security utility. Say you have a questionable installer. You could take the system snapshot, install the software, and be shown a list of all the files altered by the installation, and see if there's anything undesireable going on. Maybe a "sandbox" or "jail" so you could see what would happen before actually installing the program? Or is that beyond the scope of cameyo?
Also, I've messed around with Linux quite a bit, and it seems like cameyo would be a natural fit for WINE, because a lot of programs have trouble under WINE due to dlls, registry issues, etc., so it seems like cameyo could package a lot of those things together, making running programs under WINE more feasible...? Anyone have any experience/opinions?
Speaking of open-source... How much of cameyo is open-source? Just the SDK? It seems like it has similar functionality to rsync or diff...
Lastly, speed... How do programs packaged by cameyo run as opposed to a "native" install? How much of cameyo is "virtualization"?
Sorry for the wall of text... this seems like a really useful program with a lot of potential, and it got me thinking.
With regards to security, although this seems like a good idea, it is never a good idea to use a non-security product (Cameyo, or *any* other app virtualization program) for security. Simply because these are non-security products, and they can be bypassed by malware writers who want to bypass. An app virtualization software is made for functionality (using an app on your machine), not for isolating malware from it. For the latter, you should use security software such as BufferZone.
With regards to WINE, I don't know - someone would need to test it.
Open source: the Package Editor and SDK headers are open source.
As to speed, there is always some overhead with app virtualization programs. Cameyo should be among the fastest when it comes to filesystem access, as it was built with performance in mind.