Great, now you have a cross compiler. Next run ./rebuil.sh again and select the linux-i386 option which will build you linux hosted.
That is beautiful

One step in the right direction.
Could I make a suggestion in the manual.
Something like this:
Linux-i386
Select "1" toolchain-alt-abiv0-i386
run "./rebuild.sh" again after it is build.
Select "2" alt-abiv0-linux-i386 (DEBUG)
Edit: I tried to follow the manual and run it, but the directory was not found.
I looked at the iso created and there are many files in the system that are not build.
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/distfiles $ dir
aros-pc-i386.iso
Here is some output.
niko@niko-Latitude-D520 ~ $ cd myrepo
niko@niko-Latitude-D520 ~/myrepo $ dir
alt-abiv0-pc-i386 AROS portssources rebuild.sh toolchain-alt-abiv0-i386
niko@niko-Latitude-D520 ~/myrepo $ cd alt-abiv0-pc-i386/
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386 $ dir
arch bootstrap config.log external mmake.cache test
bin compiler config.status images mmake.config tools
boot config distfiles Makefile rom workbench
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386 $ cd bin
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin $ dir
linux-x86_64 pc-i386
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin $ cd linux-x86_64/
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/linux-x86_64 $ dir
gen tools
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/linux-x86_64 $ cd ..
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin $ cd pc-i386/
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386 $ dir
AROS gen Ports
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386 $ cd AROS/
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386/AROS $ dir
Arch C Development EFI L Locale S Tests
AROS.boot Classes Devs Extras Libs Prefs Storage
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386/AROS $ cd Arch/
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386/AROS/Arch $ dir
pc
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386/AROS/Arch $ cd pc
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386/AROS/Arch/pc $ dir
bootstrap.gz Devs grub kernel.gz Libs
niko@niko-Latitude-D520 ~/myrepo/alt-abiv0-pc-i386/bin/pc-i386/AROS/Arch/pc $