If I find a reference to the 'zero lag' shutter speed at some point while browsing through HTC kernel source, i'll post it here. If so, we can go from there to work this in to something different, like cm7.
No promises that even if it is found it can be ported, for all I know it could be software in the HTC camera app itself, I haven't gone through the app to see. It could also be defined in the HTC sense frameworks...or maybe it is a hardware feature that just needs support coded.
Who knows, but i'll be on the lookout for anything having to do with this. If I stumble across any information i'll post here. That way even if I can't find the time or figure out how to work with it, others might be able to.