Once you guys get good at kernel building, you might want to try your hand at toolchain building, this is very hard, consider building a kernel a warm up.
to get info about your kernel, including the toolchain used to build the kernel.
adb shell
cat /proc/version
My current kernel displays.
root@android:/ # cat /proc/version
Linux version 3.1.10 (vampirefo@vampirefo-GA-MA78GM-US2H) (gcc version 4.7.3 20130102 (prerelease) (crosstool-NG hg+default-20f2459b97bf) ) #1 SMP PREEMPT Sun Feb 3 13:00:51 EST 2013
This is way more advanced than my knowledge about kernel... But it seems like you are using the Linaro Toolchain right? That is what i know so far, and i don't even know anything about the toolchain building I still have a lot to learn