I liked it.
The only silly plot device was the... errr... trying to avoid a spoiler... the Kafka part. The rest seemed like pretty reasonable adventure scifi.
I agree about the shaky camera, but it seems like something a lot of filmmakers like. I assume that the wired-up kids like that kind of thing.
It's very easy to imagine a sequel or two, especially if Jackson stays interested. Or maybe SA capital can be found since this is probably a bigger success than most South African films garner.