It looks like OCaml 3.10 is failing to build on the non-native arches. I think I tracked down the problem and have reported it upstream[1]. However, I don't have time to make/test a patch for svn at the moment. One quick fix should be to just change the variable mentioned in the bug report to default to 'gcc' for any linux arch.
Cheers, -Mike 1 - http://caml.inria.fr/mantis/view.php?id=4375