I personally think it would probably be easier to use one of the mounting devices that come with the camera. I'm pretty sure the GoPro has a setting to flip an image in case one wants to mount the camera upside down (which may be an easier mounting method on the ELEV-8).
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More cameras on the ELEV-8 discussion. Post #13 shows a HackHD mounted to my ELEV-8 (check out the video).
http://gopro.com/camera-mounts/tripod-mount
With a tripod mount you could use Parallax's camera mount.
I personally think it would probably be easier to use one of the mounting devices that come with the camera. I'm pretty sure the GoPro has a setting to flip an image in case one wants to mount the camera upside down (which may be an easier mounting method on the ELEV-8).