Hi David
The calculation of the MIIM clock value is:
MSCR = (((ETHERNET_CONTROLLER_CLOCK/(2 * MII_MANAGEMENT_CLOCK_SPEED)) + 1) << 1); // generate the communication channel clock
where the ETHERNET_CONTROLLER_CLOCK is the core clock (eg. 96MHz when the PLL is set to allow the maximum clock speed compatible with USB operation) and MII_MANAGEMENT_CLOCK_SPEED is the speed you are aiming at.
Eg. to generate 800kHz MIIM clock a value of 0x7a would be used. Typically 2.5Mz is max. that the PHY will accept (although some allow higher) and a value of 4 would be about 24MHz and thus much too high.
Try the binary here, which sets 800kHz:
http://www.utasker.com/kinetis/TWR-K60D100M.html
Beware that there tend to be only weak pull-ups on the lines and, due to the tower kit back plane capacitance, the signal swing is slow (they are open-drain and should have much stronger pull-ups). Using frequencies of the more standard 2.5MHz is not recommended since it becomes unreliable (only about 1V of signal swing) so this is why a slow clock is recommended (and in fact necessary).
Regards
Mark