Okay. I have gotten past the 'Compatibility Screen'. I changed the build.prop to match to Droid X.
ro.product.model=DROIDX ro.product.brand=verizon ro.product.name=shadow_vzw ro.product.device=cdma_shadow ro.product.board=shadow
Funny thing is that the game is compatible with Droid X but not with Milestone 2 when both have exactly same CPU, GPU and chipset. I found out from Gameloft's website that the game is compatible with Droid X, so tried this out.
It is currently downloading data. I'll let you know if it runs fine.
I don't think Chainfire 3D would be needed for this game since we have PowerVr GPU and so does Droid X. May be for some Tegra devices we would need to use Chainfire 3D and some build.prop related with some tegra device.
Edit: It worked after the download. I can play it fine. I can even revert to original build.prop after that.
This method really works for my LG Optimus LTE... Thanks...