Still having issues with the compile, I entered the "-DDISABLE_DOCSTRINGS:BOOL=ON \" to /usr/local/lib/ptxdist-2012.06.0/rules/shiboken.make so it now looks like this:

SHIBOKEN_CONF_OPT       = \
        $(CROSS_CMAKE_USR) \
        -DBUILD_TESTS:BOOL=OFF \
        -DDISABLE_DOCSTRINGS:BOOL=ON \
        -DPython_PREFERRED_VERSION=python$(PYTHON_MAJORMINOR)

I also noticed that libxml2 and xslt were being looked for during the cmake so I enabled those in the menuconfig for ptxdist, but that didn't seem to help either. I've attached the entire build output log, maybe there's something I'm overlooking. Thanks,
 - David

----------------------------
target: host-shiboken.extract
-----------------------------

extract: pkg_src=OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/src/shiboken-1.1.1.tar.bz2
extract: pkg_extract_dir=OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1

pkg_patch_dir:     'ptxdist-2012.06.0/patches/shiboken-1.1.1'
pkg_patch_series:  'ptxdist-2012.06.0/patches/shiboken-1.1.1/series'

patchin: patch: apply 'ptxdist-2012.06.0/patches/shiboken-1.1.1/series'
applying '0001-cmake-allow-specifying-the-preferred-Python-version.patch'
patching file cmake/Modules/FindPythonInterpWithDebug.cmake
Hunk #1 succeeded at 1 with fuzz 2.
patchin: patch: done

finished target host-shiboken.extract

----------------------------------
target: host-shiboken.extract.post
----------------------------------

pkg_patch_autogen: '<none>'

finished target host-shiboken.extract.post

-----------------------------
target: host-shiboken.prepare
-----------------------------

-- The C compiler identification is GNU 4.4.5
-- The CXX compiler identification is GNU 4.4.5
-- Check for working C compiler: /usr/bin/gcc
-- Check for working C compiler: /usr/bin/gcc -- works
-- Detecting C compiler ABI info
-- Detecting C compiler ABI info - done
-- Check for working CXX compiler: /usr/bin/g++
-- Check for working CXX compiler: /usr/bin/g++ -- works
-- Detecting CXX compiler ABI info
-- Detecting CXX compiler ABI info - done
-- Looking for Q_WS_X11
-- Looking for Q_WS_X11 - not found.
-- Looking for Q_WS_WIN
-- Looking for Q_WS_WIN - not found.
-- Looking for Q_WS_QWS
-- Looking for Q_WS_QWS - found
-- Looking for Q_WS_MAC
-- Looking for Q_WS_MAC - not found.
-- Found Qt4: /home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/sysroot-host/bin/qmake (found suitable version "4.8.2", required is "4.5.0")
-- Found PythonLibs: /home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/sysroot-host/lib/libpython2.6.so (found suitable version "2.6.6", required is "2.6")
-- Could NOT find LibXml2 (missing:  LIBXML2_LIBRARIES LIBXML2_INCLUDE_DIR) (Required is at least version "2.6.32")
-- Could NOT find LibXslt (missing:  LIBXSLT_LIBRARIES LIBXSLT_INCLUDE_DIR) (Required is at least version "1.1.19")
CMake Warning at ApiExtractor/CMakeLists.txt:11 (message):
  libxslt and/or libxml not found, disabling support to doc strings!


Qt QTGUI library not found.
-- sphinx-build - not found! doc target disabled
-- Configuring done
-- Generating done
-- Build files have been written to: /home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build
finished target host-shiboken.prepare

-----------------------------
target: host-shiboken.compile
-----------------------------

make[1]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[2]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[3]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[3]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
[  1%] Generating qrc_generator.cxx
Scanning dependencies of target libshiboken
make[3]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[3]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
[  3%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/basewrapper.cpp.o
Scanning dependencies of target apiextractor
make[3]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[3]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
[  5%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/apiextractor.cpp.o
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/libshiboken/basewrapper.cpp: In function 'void Shiboken::decRefPyObjectList(const std::list<PyObject*, std::allocator<PyObject*> >&, PyObject*)':
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/libshiboken/basewrapper.cpp:577: warning: suggest explicit braces to avoid ambiguous 'else'
[  7%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/gilstate.cpp.o
[  9%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/helper.cpp.o
[ 11%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/sbkconverter.cpp.o
[ 12%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/sbkenum.cpp.o
[ 14%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/sbkmodule.cpp.o
[ 16%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/abstractmetabuilder.cpp.o
[ 18%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/sbkstring.cpp.o
[ 20%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/bindingmanager.cpp.o
[ 22%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/threadstatesaver.cpp.o
[ 24%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/typeresolver.cpp.o
[ 25%] Building CXX object libshiboken/CMakeFiles/libshiboken.dir/shibokenbuffer.cpp.o
Linking CXX shared library libshiboken-python2.6.so
make[3]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
[ 25%] Built target libshiboken
[ 27%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/abstractmetalang.cpp.o
[ 29%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/asttoxml.cpp.o
[ 31%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/fileout.cpp.o
[ 33%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/graph.cpp.o
[ 35%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/reporthandler.cpp.o
[ 37%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/typeparser.cpp.o
[ 38%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/typesystem.cpp.o
[ 40%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/include.cpp.o
[ 42%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/typedatabase.cpp.o
[ 44%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/ast.cpp.o
[ 46%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/binder.cpp.o
[ 48%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/class_compiler.cpp.o
[ 50%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/codemodel.cpp.o
[ 51%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/codemodel_finder.cpp.o
[ 53%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/compiler_utils.cpp.o
[ 55%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/control.cpp.o
[ 57%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/declarator_compiler.cpp.o
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/declarator_compiler.cpp:109:2: warning: #warning "ptr to mem -- not implemented"
[ 59%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/default_visitor.cpp.o
[ 61%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/dumptree.cpp.o
[ 62%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/lexer.cpp.o
[ 64%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/list.cpp.o
[ 66%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/name_compiler.cpp.o
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/name_compiler.cpp:65:2: warning: #warning "NameCompiler::visitUnqualifiedName() -- implement me"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/name_compiler.cpp:75:2: warning: #warning "don't use an hardcoded string as cast' name"
[ 68%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/parser.cpp.o
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:733:2: warning: #warning "implement me"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:2111:2: warning: #warning "implement me"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:2131:2: warning: #warning "implemente me (AST)"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:2288:2: warning: #warning "implement me"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:2296:2: warning: #warning "implement me"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:2891:2: warning: #warning "mark the ast as constant"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:2981:2: warning: #warning "Parser::skipFunctionBody() -- implement me"
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/parser/parser.cpp:3010:2: warning: #warning "implement me"
[ 70%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/smallobject.cpp.o
[ 72%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/tokens.cpp.o
[ 74%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/type_compiler.cpp.o
[ 75%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/visitor.cpp.o
[ 77%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/rpp/builtin-macros.cpp.o
[ 79%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/parser/rpp/preprocessor.cpp.o
[ 81%] Building CXX object ApiExtractor/CMakeFiles/apiextractor.dir/qrc_generator.cxx.o
Linking CXX static library libapiextractor.a
make[3]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
[ 81%] Built target apiextractor
make[3]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
Scanning dependencies of target shiboken
make[3]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[3]: Entering directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
[ 83%] [ 85%] Building CXX object generator/CMakeFiles/shiboken.dir/generator.cpp.o
Building CXX object generator/CMakeFiles/shiboken.dir/shiboken/cppgenerator.cpp.o
[ 87%] Building CXX object generator/CMakeFiles/shiboken.dir/shiboken/headergenerator.cpp.o
[ 88%] Building CXX object generator/CMakeFiles/shiboken.dir/shiboken/overloaddata.cpp.o
[ 90%] Building CXX object generator/CMakeFiles/shiboken.dir/shiboken/shibokengenerator.cpp.o
[ 92%] Building CXX object generator/CMakeFiles/shiboken.dir/shiboken/shibokennormalize.cpp.o
[ 94%] Building CXX object generator/CMakeFiles/shiboken.dir/main.cpp.o
[ 96%] Building CXX object generator/CMakeFiles/shiboken.dir/qtdoc/qtdocgenerator.cpp.o
Linking CXX executable shiboken
CMakeFiles/shiboken.dir/qtdoc/qtdocgenerator.cpp.o: In function `DoxygenParser':
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/doxygenparser.h:32: undefined reference to `DocParser::DocParser()'
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/doxygenparser.h:32: undefined reference to `vtable for DoxygenParser'
CMakeFiles/shiboken.dir/qtdoc/qtdocgenerator.cpp.o: In function `QtDocParser':
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/qtdocparser.h:32: undefined reference to `DocParser::DocParser()'
/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1/ApiExtractor/qtdocparser.h:32: undefined reference to `vtable for QtDocParser'
collect2: ld returned 1 exit status
make[3]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[2]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[1]: Leaving directory `/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/build-host/shiboken-1.1.1-build'
make[3]: *** [generator/shiboken] Error 1
make[2]: *** [generator/CMakeFiles/shiboken.dir/all] Error 2
make[1]: *** [all] Error 2
make: *** [/home/david/build/OSELAS.BSP-Pengutronix-Mini2440-2012.06.0/platform-mini2440/state/host-shiboken.compile] Error 2