I use a HP KQ246AA 8.0MP USB Deluxe webcam, and the same kernel crash happens with my system:

Ubuntu 9.10 64 Bit - Karmic Koala and WS 7.1

But it happens only if I plug the webcam while the PC is on and WS 7.1 is already started, ( I normally use this camera with a different PC - Win XP ). If I plug it before the PC is on, and start it with the webcam already plugged in, then I don't experience the crash, and the camera works fine with WS 7.1 from a Win XP guest ; it's strange but at least it works.