Webcam Philips SPC230NC not working

Question

I've RPI model B and webcam Philips SPC230NC and can't get this cam working.

The camera red led doesn't stay on. It only turns on during boot for about 2 seconds (it keeps on on my macbook air).

Here's fswebcam output:

$ fswebcam -p JPEG image.jpg
--- Opening /dev/video0...
Trying source module v4l2...
/dev/video0 opened.
No input was specified, using the first.
Unable to find a compatible palette format.

Altought it shows cam list controls:

$ fswebcam -d v4l2:/dev/video0 -i 0 --list-controls
--- Opening v4l2:/dev/video0...
/dev/video0 opened.
Available Controls        Current Value   Range
------------------        -------------   -----
Brightness                16 (50%)        0 - 32
Contrast                  127 (49%)       0 - 255
Saturation                127 (49%)       0 - 255
Red Balance               100 (50%)       0 - 200
Blue Balance              100 (50%)       0 - 200
Exposure                  66 (6%)         0 - 1023
Gain, Automatic           True            True | False
Gain                      15 (24%)        0 - 62
Horizontal Flip           False           True | False
Vertical Flip             False           True | False
White Balance Temperature 55 (21%)        0 - 255
Sharpness                 8 (53%)         0 - 15
Unable to find a compatible palette format.

The camera is listed as compatible with module gspca_pac7302.

$ lsmod | grep pac7302
gspca_pac7302           7860  0 
gspca_main             23879  1 gspca_pac7302
videodev              121196  2 gspca_main,gspca_pac7302

Seems to be a module bug. Does anyone have any idea to get it working?

Some debug info follow below:

$ ls -l /dev/video0
crw-rw---T+ 1 root video 81, 0 Oct 31 13:42 /dev/video0

lsusb:

$ lsusb
[...]
Bus 001 Device 005: ID 093a:262c Pixart Imaging, Inc.  

/var/log/messages output when connection webcam is:

Oct 31 13:42:26 webcam1 kernel: [  340.066003] usb 1-1.3: new full-speed USB device number 6 using dwc_otg
Oct 31 13:42:26 webcam1 kernel: [  340.178650] usb 1-1.3: New USB device found, idVendor=093a,idProduct=262c
Oct 31 13:42:26 webcam1 kernel: [  340.178686] usb 1-1.3: New USB device strings: Mfr=0, Product=0, SerialNumber=0
Oct 31 13:42:26 webcam1 kernel: [  340.188276] gspca_main: gspca_pac7302-2.14.0 probing 093a:262c
Oct 31 13:42:26 webcam1 kernel: [  340.190721] input: gspca_pac7302 as /devices/platform/bcm2708_usb/usb1/1-1/1-1.3/input/input1