If Tasker is using the Android SDK AlarmManager, then scheduling task to be run at each second is going to over-load the service tremendously. For app of this nature, we should be developing using other SDK classes instead.
Actually I am curious, I believe most Android smart-phone come with both camera and camcorder in it isn't it ? Using the stock Camcorder will be the better choice instead of simulating it by asking the camera to snap at every second.
Unless the OP is looking for a hybrid between camera and camcorder and that is the interval is set to say 3-5 seconds to get a "movie" ? It never fail to amaze me on the app request posted by users in this forum but I believe are there enough users asking for such feature?
Hmmm...