I got the exact same problem. I checked everything over and over again . At the boot menu, hiting the pause button while chameleon just starts loading osx allows me to see that my lan and video card is detected, but in osx the time machine fix does not work and my graphics card is not detected.
Modo : Gigabyte g31m-es2c
videocard : nvidia geforce 8400GS 256mb
OS retail : kexts: Disabeler, Decrypt, Blootooth fix, AppleRTL8169Ethernet.kext, VoodooPS2, VoodooHDA. Pached dsdt, and smbios.plist
I tried installing Chameleon 2 RC2 640 , in efi, fat and standard mode with the same result.