This lens_cover_opened could be one event which is hooked by shortcutd, and have its own configure-file in ~/.shortcutd.d/
https://bugs.maemo.org/show_bug.cgi?id=9646
So, lens_cover_opened.cfg would have at least two menu items, for "run Camera" and for "run Flashlight".

And if it would be possible to start camera somehow straight in video-mode, although last time we were in camera-mode, then also "take Video" button could be useful for user to configure there.