As you have not provided the mintlib and pml packages for 5475 (right libraries in right directories, etc), I have not been able to fully link a C executable, but the as, gcc and ld tools works as expected on small test files.
This combines very well with my current task: I'm currently upgrading and (cross-)rebuilding my "popular free software" for all the supported targets, including ColdFire. That's almost finished:
http://vincent.riviere.free.fr/soft/m68k-atari-mint/archives/mint/