Although the box doesn't mention it and the quick setup guide also says that the camera won't work at all unless you had configured it with the Windows only setup tool, it's perfectly possible to use this camera with your Mac.
If you cannot run the setup tools (either on Virtual PC or on a real windows machine), just configure your ethernet adapter to use an address in the 192.168.1.0/24 range, plug the wireless camera into your hub/switch (or use a 1:1 crossover connection) and point your web browser to http://192.168.1.115. You'll have all the options as in the windows setup program.
You can view the video with mplayer. Just open the location http://192.168.1.115/img/video.asf. Unfortunately, recording the video stream with asfrecorder didn't work.
A post on this page also states that there are two URLs to use to get motion jpeg video from your camera (using http://YourWebCam/img/mjpeg.jpg and http://YourWebCam/img/mjpeg.cgi).
The Linksys website also holds a 66 MB archive of the camera firmware with source code and a complete toolchain to compile it yourself.