The camarea just does a swing around zoom.
It appears the catch part isn't working yet, but the battling is.
A few notes:
Not all pets have skills yet. In my current team I only have 1 skill out of a possible 9.
Pets before the patch seem to have been wiped from the journal, but not your toons list of known spells, so to get a pet you either need an alt you hasn't leant the pet yet to learn it (adding it to the account wide journal) or re-transfer over you pet heavy toon.
Catching doesn't seem to work yet, it just knocks them out.