My sons have done a college summer camp for the past few years. They loved it for the social part, but I don't think they got much gymnastic-wise out of it (which is probably just fine as far as our regular coach is concerned, as he wants things done in a pretty specific way - drills, conditioning, etc).
For us (and for younger boys in general, I think) having them attend the camp is all about the social. They get to meet other boys just as invested in the sport as they are, they get to meet some of the college gymnasts, they get to have fun and play games. They also get to see (socially) some of the other boys in the state that they compete with throughout the year, so they are starting to develop friendships there.
As far as gymnastics is concerned, they stuck to basics that they already knew really. Funny story about the end of camp when parents get to watch for a bit - my one son was so so excited to show me something...he shows me and I'm thinking "huh, what's he showing me? He already knows this skill?". I say something along those lines to him, and he says "yeah, but look how good I'm getting at it. Anyway, X (boy that he just met) was having a hard time doing it at first and now he can do it. We worked on it all weekend". So it seems he spent much of his time working on a skill he already had so he could help this boy out, which seemed like a pretty good learning experience to me.
Different obviously for the older boys who are looking to get noticed!
I would also talk to your coach, ours wasn't too thrilled with it but they didn't miss practice for it and we stressed that we were doing it for the social aspect of it. I think the clinics that they get the most out of in terms of gymnastics are the ones they attend with their coach.
If my boys loved Ohio State and had a chance to go to a camp there, I'd definitely let them try it out!