Today is a big day in working with Euca2ools on our cloud. I have successfully uploaded an image, kernel, and ramdisk to the Matrix server and an instance is actually running off of my image. This has been a trial and error process that has taken weeks, and I am pretty satisfied. Here is the proof:
The instructions posted on our user guide by Dhimitri and Mindo were really helpful, but of course being a complete noob to Linux I was confused by some parts. The wiki will be changing slightly to reflect my new found understanding and hopefully the revisions will help anyone else trying out this process in the future.