Below threads may be useful to build arago toolchain
http://e2e.ti.com/support/embedded/linux/f/354/p/295264/1029770.aspx#1029770
http://e2e.ti.com/support/embedded/linux/f/354/p/205230/727856.aspx#727856
Using crosstool-ng to build the toolchain without stripping symbols to enable valgrind use is another option.