This is usually a sign that you don't have the proper libraries (or dynamic linker) loaded. Given you are using ubuntu, which normally does not install the 32-bit libraries, I suspect you need to poke around and load the 32-bit dynamic linker and all of the shared libraries used by the arm-gcc commands.
I didn't have to do any of that for the 1.5 release. It "just worked". (on Ubuntu 10.10)
1.5.1. also "Just worked" on Mint 13 which is based on Ubuntu 12.04
grandrik, from what I've experienced, everything needed is included in the Arduino IDE tar image.
I'd go uninstall the ARM packages you added.
Do you have any weird characters in your file/directory names like spaces? (That is bad)
When the IDE called g++ it didn't use relative paths for me. It used full path names to the tools.
Can you post the debug compile lines that you get when you try to compile the code?
Still trying to get 1.5.1 to come up on Ubuntu 10.10
I think there may an issue with using multiple/different versions of the IDE on the
same machine (which I do. I have 20 different versions of the Arduino IDE on my Ubuntu 10.10 machine)
because all the IDEs share the same user configuration files.
(I've run into these types of issues before)
I modified 1.5 on my Ubuntu 10.10 for pic32 support to allow me to use Arduino 1.5
with chipkit boards (works great BTW), but if I leave the Uno32 board (chipkit board)
selected and then try to bring up a stock 1.5 the 1.5 also crashes.
So there is some issue in the IDE in that if it sees a board type being used that is not part of the
supported boards in the tree, it crashes.
Although I even removed the preferences.txt file and had it create a new one, and still
had the same problem.
I think my issue has nothing to do with the issue grandrik is having.