It seems that linux kernels newer than 3.1 is incompatible with with the current uboot on the B3.
This discussion http://bugs.debian.org/658904 indicates that it's a problem with L2 cache that needs to be disabled by uboot and that a uboot version of at least 2011.12-3 is needed to solve the problem.
One user in the Arch Arm forums (http://archlinuxarm.org/forum/viewtopic ... 1&start=10) claims that installing the 3TB uboot image solves the problem. Unfortunately I have not been able to reproduce this, so either I didn't install the 3TB image correctly or I need an even newer uboot image.
Here is the uboot version information that I get from the serial console:
Did I install the 3TB uboot image incorrectly? If not, is there a newer uboot image that I can use?U-Boot 2010.06 (Jun 10 2011 - 09:06:51)