You will need new version of that newcs which is compiled against kamikaze uClibc. Also make shure you enabled FPU emulation if you compile you own image.
I have newcs 1.65 runing on backfire 10.03 (svn) withoud problem, newcs is runing just fine, and from your error msg, newcs cant be started at all.
Can you try "normal" newcs.openwrt file on your router and see if it is going to start at all..