dunno what to tell you, then. as you can see from my screenshot, I lined mine up OK.
"through camera" for sure is wrong, though.
the only way I might be able to help any further is if you were to pack up your .tgd, .ter and bitmap into a zip file for me and I'd look at it here. to tell you the truth, though, I hadn't even looked at lining up a bitmap texture to a .ter terrain until I set up my test in response to your query, betting that the simple "plan y" and scaling thing would solve it.