I heard a rumor that armv6 support had been added (seen a youtube video of it running on the optimus one). While the Optimus V is not officially supported, there are ways around that.
Making a change in my build.prop allowed me to download the correct SD data.
change
Code:
ro.product.model=LG-VM670
to
Code:
ro.product.model=LGP500
Then reboot. Open O&C and download the 860MB+ SD data.

I tested on
G-T-R Reloaded 7.8.6
Using version "OCO_v1.1.3.apk" of Order and Chaos. (I do own the game)
Its a little hard to read some text, but runs "good", not great.