If you haven't tried it yet - I just discovered this today - even if you are prompted with the error message "Mobile Hotspot failed to start", if you see a data connection established, your MH might still have connected.

I kept receiving the error after the tether was broken due to an incoming call. I reinstalled the app several times, rebooted, physically deleted /opt/mobilehotspot/libs etc. to no avail. Finally decided to try it despite the error, and here we are, using it as we speak. [Using Titan's latest kernel]