Everything up to that point is normal, can you install chameleon on another usb stick using chameleon wizard. If you updated the Snow Leopard one, I think you still have some kexts there in Extra/Extensions, this is causing a disruption with the system boot up.

I think this because it says there's a duplicate fakeSMC name (look in your screenshot with pmVersion=0). It says that it's being loaded again, so there has to be another kext being loaded somewhere, and it would make perfect sense. Just install clean chameleon on a new usb stick or remove Extra/Extensions + Extensions.mkext from the current chameleon. I'm not particular picking at fakeSMC, but it could be loading more then just fakeSMC (like Evoreboot, IOPCI, disabler, basically old snow leopard kexts), and these kexts could be causing the kernel panic.