My neighbor cut down a camphor tree and now has a mound of camphor mulch in her yard. It smells wonderful, but is it good for anything? She said she heard not to use it a mulch around plants.
The attached link might shed some light on this topic. I can find no indication that this plant cannot be used as mulch.
Here is a link that might be useful: Check this out
What a shame it is invasive due to seeds. I was given the task of finding one for the garden club here 5 yrs ago in central NC but had no luck. Enjoy the mulch while you can. The active ingredient is in Vicks Vapor Rub and has medicinal use such as anti-fungal. Dr Oz says to use Vicks on toenail fungus, but I bet that mulch would drive away all sorts of rodents.