Oh. I didn’t realize that when I added universal binary for Snow Leopard support to Makepanda. Sorry about that.
So, I think makepanda is detecting that you’re running on a 64-bits system. So you’d need to remove the “-arch i386” parameter, I think that should work.
It’s probably a good idea to remove the “built” directory after that. Makepanda is not smart enough to automatically force rebuilds when a compilation flag has changed.