to clone the repository you only need the first command, if you add --recurse option (or was it --recursive)
it compiles for me, but I compile it directly on the Kobo (Debian Jessie chroot, gcc 4.9.2) so it may be different to using a cross-compiler.
actually I do have to add a cflag (-std=c11) to make it work at all and then it warns about unknown pragma.
Code:
fbink.c:65:10: warning: unknown option after '#pragma GCC diagnostic' kind [-Wpragmas]
# pragma GCC diagnostic ignored "-Wduplicated-branches"
^
but the result seems to work fine then