I've just got some more info on Reveal Enemy (haven't been able to get on Amun to test today).
It looks like Reveal Enemy is not a buff for the caster, it is a debuff for the target.
It is a one-time only debuff that effects a 30m cone in front of the caster. Any camoed or stalkered player in the area of effect becomes visible for the duration of the Reveal spell. They keep any debuffs of the camo or Stalker spell (speed malus). They will return to camo if any time is left in its duration after Reveal wears off.
If Reveal Enemy is cast on a hunter before he camos, he will be visible until the Reveal wears off, at which time he will camo (provided there is still some time left in the camo).
This implementation of Reveal still gives camo a lot of power, and looks like it will facilitate fluid gameplay. However, there may be a few problems:
1) Because of the speed malus, there should be a way to cancel Stalker without using a buff or attacking, especially since at level 5 Stalker is a 5 minute long spell. (Previously moving canceled it). Maybe simply pressing the Stalker icon/tile again?
2) Clearing forts of camoed Hunters is going to be a hellish process. Before other Hunters just used Escapist to run around the fort, as it triggered whenever you passed the enemy. Now it will require spamming Reveal and Track. Perhaps camoed players should just be ejected from forts when they are captured (though this will mean much less fun

).
3) The Hunter who casts Reveal Hunter has a sparkling animation around him for the duration of the spell. Since Reveal is not a buff, but a target debuff, there doesn't seem to be a purpose for this.