I tried to install this from source on openSUSE 11 too. And got this errors too.
Just take rpm packages:
vhba-kmp-pae, cdemu-client, cdemu-daemon
hxxp://packages.opensuse-community.org/index.jsp?searchTerm=vhba&distro=openSUSE_110
hxxp://packages.opensuse-community.org/index.jsp?distro=openSUSE_110&searchTerm=cdemu
Install with: sudo rpm -ivh ... or with Yast.
Then I installed it I got error then runing cdemud. You need do: sudo /sbin/modprobe vhba
Now you make emulation.
Run: sudo cdemud
In another console:
cdemu status
cdemu load 0 /path/to/image.iso
Done.
P. S. Sorry for terrible english