No, the design will not be fully open-source. Due to licensing constraints, we are unable to release core components that do not belong to us. If you are looking to customize the camera however (scripts, plugins, custom UI?), we really want to make that happen! Please email us at email@example.com and let us know what you think will be the best way to implement this.
For the FSF supporters out there, yes, we will be releasing the required sources to remain GPL compliant, though they will not be very useful without the proprietary components from our chipset manufacturer.