The BioWare Social Network has the good news that the face import bug in Mass Effect 3 is solved, though the bad news is they are not certain when the patch with the fix will be released (thanks Computer and Video Games). Here's word:

Ok, I have what I hope is some good news.

We have fixed the issue of faces not correctly importing into Mass Effect 3. It will be included as part of the next Mass Effect 3 patch.

The not completely good news is that I do not yet have a confirmed date for when the patch will be available. A new patch gets heavily tested by BioWare, EA, Microsoft and Sony before it can be released to the public. We all want to be sure that it fixes the issues it is supposed to fix and doesn't start any new issues (this is called testing or certification testing ). If a patch fails during testing, it is sent back, fixed again and retested until it passes. Then it is released to gamers. Until we know that the patch has passed certification testing, I don't want to give even a rough idea of the date, to prevent disappointment should it need further testing.

So I'm sorry I don't have the full answer you all want and are waiting for yet. When I can give you the date when the patch will be available I will.