The relationship of cam and crank sensors is a little more involved. The crank sensor is the trigger for both Spark and Fuel, but until the ignition module (TR6 in this case) detects a cam sensor, no crank sensor signals are allowed to pass thru to the ECM (XFI in this case)
Look inside the TR6 unit at the LEDs, my guess is that the CAM led does not change state when cranking. Could be the cam sensor itself, or electrical connections at the TR6 or cam sensor.
Bob