Right, I deleted my last post on account of me just being way, way wrong - I'd never run ldd against anything I've cross-compiled, so I went and ran it against something I thought I'd cross-compiled that I'd actually natively compiled, because I'm an idiot
The short of it: I don't know how ldd does its job, but my x86 ldd doesn't work on my cross-compiled ARM executables either, so it looks like it just doesn't work at all. Maybe you should take your powerpc-*-ldd compiled with your C library (if you use glibc/uClibc, at least) and run it on your target architecture?