Tiny goes into a kernel panic when trying to install 32bit Tiny on to a 64bit system.
The URL posted has a complete log dump.
The way it crashes is exactly like what you get when you try to stuff a 64bit OS on to a 32bit system, but its the other way around.
Note: I also tried to install the 32 bit image on to a VM server called Limbo, on my rooted phone. It crashed epically there, so I moved on to VirtualBox to try and get better logging and testing abilities. Got the same issue with VirtualBox as Limbo.
I get the same behavior with all 32bit versions of Tiny, include Core and CorePlus.