Cool product! We've been working on this stuff (and a lot more) over at VideoView.com. Right now we're working on an entirely new video interview recording application which is kind of like a very extended version of this.
Our experience has been that one of the biggest challenges is actually in getting the average (non-technical) user to be guided through the webcam and audio setup process. There's nothing as frustrating to a user as thinking they've recorded a video, only to discover that the audio didn't work or the video went wrong.
How do you handle that with CameraTag?