had a similar problem, read through the thread for solutions, but here's a quick summary

-- the instructions mention android kernel .05, yet you probably have .06, so change the entry in your multiboot to refer to .06

-- you might then get a filesystem error at the same point with the same guru meditation thingy; experiment with different values for device in multiboot; default is mmcblk0p5, for some its mmcblk0p2, for me mmcblk1p2

sorry for lack of detail, gotta run, all the answers are in this thread, read it through again