Even though the different morphs of panther chameleons are considered to be the same species so far, when/if some of them have been too far separated geographically for too long, allopatric speciation can occur.
Allopatric speciation: "It's a bit like a character in a movie going off and having adventures that change him so drastically that when he returns, the folks in his hometown no longer recognize the way he looks and behaves. The biological equivalent is "allopatric speciation," an evolutionary process in which one species divides into two because the original homogenous population has become separated and both groups diverge from each other".
"Often this type of speciation occurs in three steps. First, the populations become physically separated, often by a long, slow geological process like an uplift of land, the movement of a glacier, or formation of a body of water. Next, the separated populations diverge, through changes in mating tactics or use of their habitat. Third, they become reproductively separated such that they cannot interbreed and exchange genes. "
http://www.pbs.org/wgbh/evolution/library/05/2/l_052_03.html
Gary Ferguson is quoted...
"Regarding "locality hybridization", with wide-ranging species, you may be dealing with several cryptic but full, reproductively-incompatible species. I believe this to be the case with panther chameleons and probably with F. oustaleti and F. lateralis in Madagascar and C. dilepis in Africa. The bottom line here is that the most likely best-possible result of interspecific hybridization of closely-related species is a hardy hybrid, but one that reproduces poorly or not at all (mule). So, breeders of wide-ranging species should always try to breed only individuals from the same localities, if they want multiple generations."
http://www.chameleonnews.com/interviewfer.html
Here are examples of divergence where the species no longer recognizes members of its own species...
"Where the birds meet in Siberia, their songs are so different that they do not recognize each other as mates or competitors. They act like separate species, and the genetic evidence supports that conclusion."
"These results demonstrate how small evolutionary changes can lead to the differences that cause reproductive isolation between species, just as Darwin envisioned."
http://www-biology.ucsd.edu/news/article_011701.html
"Although these fish look alike and have the same DNA genetic makeup, they have very different electrical signals and will only mate with fish that produce the same signals. Cornell researchers believe that these different electrical signals are the fishes' first step in diverging into separate species."
http://www.lifesciences.cornell.edu/otherSources/sept06/evolution.htm
Inbreeding and crossbreeding can produced some amazing new animals....but it can also result in problems. Inbreeding can double up genetic problems. It can increase reproductive failures. Crossbreeding (hybridization) can produce new traits may not all be desirable as well as the amazing combinations.
Interspecies breeding has worked for many species, but doesn't work for all species. Here are some things that prevent it from working. When mating rituals differ the animals won't recognize each other. Breeding cycles may differ so one is ready to mate when the other is not. The sperm may not be accepted by the egg...they may not recognize each other...enzymes may differ that prevent the sperm from being able to enter the egg. The immune system of one may reject the sperm/egg of another as a foreign body. Offspring may be weak and not survive.
So if you decide to inbreed or crossbreed, be aware of the possibilities and problems and as hybrid said..."divulge what you did to get that animal" to people you are selling them to.