Thread: Xcode 4.
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Unfortunately, Xcode 4's automatic dependency checking can't determine when two targets have a dependency on each other due only to imports.

For example, OmniUI depends on OmniBase having been built so that it can include <OmniBase/...>. When building on the Mac, Xcode 4 *can* determine this via the framework linking, but we can't link the iOS static libraries against each other.

So, the short answer is that if you select Edit Scheme… from the Scheme popup, pick the Build action in your scheme and then uncheck Parallelize Build and Find Implicit Dependencies, it will work much better. You'll also need to tell it to build FixStringsFile before building the TextEditor (click on the + in the bottom left of the Build tab, pick FixStringsFile and put it at the top of build list.
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CTO, The Omni Group