If any other should get their hands on the Verizon iPhone - don't worry, the current version of ShutterSnitch works as it is. It's only the drop-down info box that says "No network connection" ..even though it is connected. It's just cosmetic - everything works just as it should.
Version 2.0.2 will detect the Hotspot network address and display it correctly - for now, you'll can see the IP in the Settings app.
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, click the 'Like' button at the bottom of the ShutterSnitch website
about it, make Youtube videos, blog about it.. Get the word out :)