I did some more searching and learned that apparently Elgato isn't recognized by CamTwist.
You can work around that by using whatever software Elgato comes with and just screen capturing the capture preview, but that's not as ideal in Lion because CamTwist apparently cannot maintain desktop capture when you switch spaces (screen goes black). I'm wondering how big the capture preview is anyway.
It's amazing how little options Mac has for video capture. You would think that more companies would've jumped on the opportunity by now.
By the way, Blackmagic and Matrox are definitely out of the question.
Mucx, I like Twitch but I dislike the filters on the left side of the home screen, and how the links to people you follow are not there like they are in JTV. It's also better getting the drop menu automatically when you hover over it like JTV. On Twitch you need an extra click to see it.