Nothing is wrong with it, you simply do not have the user brewbuilder so root is used instead. FYI: this is perfectly normal and is nothing to fret about, this is how the fine folks at fedora build all of these packages, from an automatic build system.
You will find that the source rpm file did in fact install, have a look in /usr/src/redhat/SOURCES and ../SPECS unless you have the rpmdevtools package installed and configured then look in /home/username/rpmbuild/SOURCES and ../SPECS
To build the binary packages type something like from the SPECS directory location;
rpmbuild -bb --define 'dist .fc5' freetype.spec
You can also try;
rpmbuild --rebuild --recompile --define 'dist .fc5' freetype-2.2.1-10.fc6.src.rpm