Thanks to the heroic efforts of rsalveti the packaged linux-linaro-omap kernel now greatly improved omap4 display functionality. There is a .deb in the linaro-maintainers kernel ppa. If you have a panda board and have time to try it out your feedback would be much appreciated:
https://launchpad.net/~linaro-maintainers/+archive/kernel/+files/linux-image...
--john