Can I somehow edit UVs to align my camera mapped texture to my model?

[spittle]

As per question.

 

Rather than edit my texture in PS, or move my model's verts, can this be acheived via UV editing?

 

I've seen a tutorial where the guy projects his camera mapped image onto his model. It lines up near enough, but he'll go into UV editing (in Maya) and drag his verts in problem areas which tweaks the position of the image only in the area where he makes adjustments.

 

I tried adding a UVW unwrap modifier and dragging the verts however it didn't seem to affect the texture in the viewport - wasn't sure if it was bacause the texture was projected from the camera rather than added with the classic unwrapping/mapping technique.