Hi mjadnerson,
You are correct, the sample Linux image doesn't do too much since it is meant merely as a demonstration.
The sample image will display a splash screen to the LCD and load Linux. Like it says in the readme file you can point your browser to the IP address that gets resolved through DHCP and view a sample web page.
The source code came from
http://www.uclinux.org/ and the implementation code for the 5329 processor came from Freescale. You can try contacting Freescale to see if they are making these files available.
Thanks,