Yea I uv'd it twice but it made no difference.

I'm starting to think it's something to do with the active camo cubemap, because it only stretches when I look at the model at an upward or downward angle. Maybe the horizontal top and bottom squares of the cubemap are trying to displaying the vertical camo texture, and therefore the camo texture is stretching. Similar things can happen in 3dsmax when you uv a texture vertically on a horizontal face, or vice versa.