This is due to the gedit/Makefile.am using 'install-exec-local' to make a symlink ('ln -s gedit gnome-text-editor'). This makes it possible for make install to try make the symlink before the binary gedit is installed and die horrible if install-exec has not yet installed gedit. Use 'install-exec-hook' instead and make will wait with 'ln -s' until after 'install-exec' is finished before trying to symlink anything. Will attach the same patch sent upstream in bug: https://bugzilla.gnome.org/show_bug.cgi?id=508512
Created attachment 140607 [details, diff] Patch against gedit-2.20.4
Fixed upstream. Wait for new version or patch?
Please consider applying this patch to gedit-2.20.4, as I'm experiencing the very same problem. I used a quick and dirty MAKEOPTS="-j1" and the issue disappeared. Btw, gedit-2.20.4 became stable on x86 6 hours ago and 36 minutes ago on ppc, so expect lots of complains :)
fixed in CVS