In the forum (link provided bellow) states that after applying the update AV0K0.E39.1.014.00.EMEA.GEN1 ( that you can download from here :
http://global-download.acer.com/GDFiles/OS/OS/OS_Acer_AV0K0.E39.1.014.00.EMEA.GEN1_A44K_A.zip?acerid=635430747005056262&Step1=SMARTPHONE&Step2=LIQUID%20E700&Step3=E39&OS=ALL&LC=el&BC=ACER&SC=EMEA_14 )
CAMERA quality comes back. It behaves as a new camera. It will be a good idea to update your test phone and re post the photos of this review for E700.
AV0K0.E39.1.014.00.EMEA.GEN1 Changes Note:
1. Camera improvement (UI update, performance optimize)
2. APN database version update
3. IME Swype update to 1.6.14.27499
4. Polaris Office update to 5.0.3402.07
5. Acer SnapNote update to 1.0.5.30196
6. System stability and issue fixed
Forum link:
http://www.android-hilfe.de/acer-liquid-e700-forum/598411-software-update-vom-08-08-2014-av0k0-e39-1-014-00-emea-gen1.html
Best Regards