Try installing via apt-get.
ITEM_NAME="Arch Linux ARM (eMMC)" ITEM_KERNEL="/boot/uImage" ITEM_DEVICE="${INT_CARD}p5" ITEM_FSTYPE="ext3" ITEM_OMAPATAG="1" ITEM_CMDLINE="root=/dev/mmcblk0p5 rootwait init=/bin/systemd omapfb.vram=0:3M,1:3M,2:3M quiet"
# u-boot-update-bootmenu Adding entry for: 'Maemo 5 with attached kernel 2.6.28-omap1 (internal Nand)' Configuration file: /etc/bootmenu/d/20-archlinux.item Warning: Invalid file - missing kernel or script file - skipping... Generating u-boot bootmenu script....