The easiest way I found to fix this dependency and install the latest canola-tuning app was as follows:

1) Add the following repository to your application manager http://eko.one.pl/maemo bora user

2) Refresh application manager and Install the package becomeroot (its in the above repo which is a bora repo but works perfectly in chinook so dont worry about it)

3) Open an xterm window and type sudo gainroot

4) Now install the missing python repository as follows:

First type apt-get update
Next install the package apt-get install python2.5-id3lib
(replace python2.5-id3lib with any other missing packages you may need)

This should install the missing dependencies, after that you should be able to get and install the latest canola tuning package from the garage!

After installing, it worked perfectly for me and I was able to update all my cover art.