Update,
I have been able to get mono to run on the iMX28EVK building under LTIB and coping the DLL's off of a build under Ubuntu host (CLI only). I also almost got windows forms running, it seems it is looking for a X11 posixhelper library that didn't get built. I also did a native build of mono. I REALLY don't recommend this method seeing it takes forever and you also need to enable a swap partition on a Thumb drive. might try distcc next time.
I was able to build a helloworld.cs on the MX28 and run it with "mono helloworld.exe" ;-)
I am still working on why the mcs does not fully build under LTIB even tho I have mono on the host.(might be a version problem. I am using 2.10.8 for target and 2.4.2 on ubuntu)
I also had to change some of the config for the linux build to suite my needs.
Hacking a way....
James