I tried building with svn 1243 and am getting the following:
mv /opt/balloon-menuconf/menuconfig/../build/kernel/modules/modules.tgz /opt/balloon-menuconf/menuconfig/../build/kernel/
make[1]: Leaving directory `/opt/balloon-menuconf/menuconfig/package/kernel'
(make -j 1 -C /opt/balloon-menuconf/menuconfig/package/rootfs/emdebian rootfs)
make[1]: Entering directory 
`/opt/balloon-menuconf/menuconfig/package/rootfs/emdebian'
make[1]: *** No rule to make target 
`multistrap-balloon-CUED-outside-tcl.conf', needed by 
`/opt/balloon-menuconf/menuconfig/../build/rootfs/emdebianrootstrap.tgz'.  
Stop.
make[1]: Leaving directory 
`/opt/balloon-menuconf/menuconfig/package/rootfs/emdebian'
make: *** [emdebian] Error 2

I am using the following config:

#
# Automatically generated make config: don't edit
# Tue Sep 21 13:31:19 2010
#
BR2_HAVE_DOT_CONFIG=y
BR2_VERSION="2010.05"
BR2_VARIANT_CUED=y
# BR2_VARIANT_TCL_SL40 is not set
# BR2_VARIANT_TCL_SL90 is not set
# BR2_VARIANT_PODPINT is not set
BR2_MAKE_JOBS=1
# BR2_BUILD_INTREE is not set
# BR2_PACKAGE_BOOTLDR is not set
# BR2_PACKAGE_UBOOT is not set
# BR2_PACKAGE_VHDL is not set
BR2_PACKAGE_INITRD=y
# BR2_INITRD_OLD is not set
BR2_INITRD_NEW=y
BR2_INITRD_ADD_CUSTOM=y
# BR2_INITRD_MODULES is not set
BR2_PACKAGE_KERNEL=y
# BR2_KERNEL_2.6.25.2 is not set
# BR2_KERNEL_2.6.29.1 is not set
# BR2_KERNEL_2.6.34 is not set
BR2_KERNEL_2.6.36-rc1=y
# BR2_KERNEL_SUBVARIANT is not set
BR2_KERNEL_REMAKE=y
BR2_KERNEL_BOOT=y
# BR2_KERNEL_INITRD is not set
BR2_KERNEL_MODULES=y
# BR2_KERNEL_CUSTOM_MODULE is not set
BR2_KERNEL_UBOOT=y
BR2_ROOTFS=y
# BR2_ROOTFS_DEBIAN is not set
BR2_ROOTFS_EMDEBIAN=y
BR2_ROOTFS_EMDEBIAN_OUTSIDE_TCL=y
BR2_ROOTFS_EMDEBIAN_MODULES=y


Hints, slaps around lughole or any other guidance appreciated.

Thanks

Charles