Ok, so this is what I found removing a bit of the covering from the bottom of the loose elevator half. I discovered that the torque rod had pushed through the balsa, it was set into, on the bottom half of the elevator. So, I used CG's advice on the 30 min epoxy and warmed it as SeamusG recommended and did the following:
1) I cut away the rough edges to clean it up.
2) Cut a piece of balsa to lay back in place of the removed broken balsa.
3) Flexed the elevator a bit to lift up the torque rod and applied the epoxy underneath and around the rod.
4) Reset the elevator at its proper position and placed the replacement balsa over top of the torque rod.
5) I used wax paper and a small clamp to pinch it together. After it dried I removed the clamp and soaked the repaired area with a bit of thin CA to reinforce the balsa structure.

It was odd because the balsa that the torque rod was set into seemed to have the grain of the wood running parallel with the torque rod. One would think the grain would be positioned perpendicular to the torque rod. Wouldn't that give it more strength to secure the rod?

Anyway, the Camel flies like normal again. Thanks for the advice guys!

~Noah