g++ -o obj/release/arm/macro-assembler-arm.o ...

...

I/root/node/deps/v8/src /root/node/deps/v8/src/arm/macro-assembler-arm.cc
/root/node/deps/v8/src/arm/macro-assembler-arm.cc:59:3: error: #error "For thumb inter-working we require an architecture which supports blx"
scons: *** [obj/release/arm/macro-assembler-arm.o] Error 1
scons: building terminated because of errors.
It looks like your compiler defaulted to armv4 (are you building on Debian?).
Try to add -march=armv5t to the CCFLAGS
 133'gcc': {
 134     'all': {
 135       'CCFLAGS':      ['$DIALECTFLAGS', '$WARNINGFLAGS','-march=armv5t'],
 136       'CXXFLAGS':     ['$CCFLAGS', '-fno-rtti', '-fno-exceptions'],
 137     },