Well, I've had the Compiz Anaglyph plugin installed since I started working with Oneiric. It's worked SUPERBLY...that is, until I upgraded to Precise. All the other eyecandy I use for ubuntu works flawlessly. Did something happen during the upgrade, or is the Anaglyph plugin just incompatible with 12.04?
Perhaps the project was re-named else discontinued. I believe this is the solution to your dilemma with 12.04. Open terminal (Ctrl+Alt+T) and type this:
Hope this is the answer everyone is looking for