I installed Fedora 17 yesterday and immediately had similar problems when using the webcam with Camorama or Cheese, (I don't have Skype installed yet, I do not know what could happen with it).
When I tried to use the cam, the computer freezed and the only way out was to reboot manually.
I also experienced results from lspci, lsusb ... similar to those reported by the previous users.
Then I found a good solution for me in the following discussion:
in the first comment, by libregeek.
It is sufficient to create a file named uvcvideo.conf in
/etc/modprobe.d/ containing the line
options uvcvideo nodrop=1
and everything works perfectly.
Even if that discussion was focused on Fedora 16, in this case it was the same for our Fedora 17.
I hope it works for you.