Yes it will work with cameras or anything really if it can send in a mavlink message. @LuckyBird has been doing some work with the Intel RealSense 435i depth cameras so his scripts might be useful as a reference.
By default it will return back to the path but the OA_OPTIONS parameter can be used to configure it to head straight to the next waypoint. Perhaps the only risk is what happens when the obstacle can’t be seen anymore by the camera… the OA_DB_EXPIRE parameter controls how long obstacles are kept in the database though so if that were long enough (like 10 or 20 seconds) then that would give enough time for the boat to get around the obstacle even after it’s gone out of view.