It is interesting as the responsibility for fining people seems less than clear according to the parties you might expect to be involved.

There also seems to be a lot of confusion; not all Olympic lanes are covered by the same restrictions and signs observed today give conflicting information (to all road users, not just cyclists) as to whether particular lanes are usable or not. There are gonna be some furious road users when the first batch of fines arrive. And as you say, if they aren't fining on the spot but using cameras that means that people on bikes will get away with it and that will become another barb in the negative opinions towards all other bike users.

Re: cycling in them, it appears that you cannot cycle in some of them even though the bus lanes they are piggy-backing in are still accessible to buses (Vauxhall Bridge Road being an example). I understand that it isn't practical to banish buses from them but I dont understand why bikes aren't allowed in them.