Assuming LG Germany isn't fibbing here, users of the Optimus 7 can expect sometime in the (near) future a small firmware update to enable internet sharing aka tethering. We know the phone's chipset supports the function but since it was a late-added feature to Mango, most OEMs have had only a little time to play with the drivers. Looks like LG though is prepped to enable this for its users, which will involve updating the firmware in a quick and painless fashion.
Lets hope it comes this year.
Source: @LGBlog; Thanks, Cyruss1989, for finding out!