I believe Mac-on-linux is designed to work on a Linux running on an actual Macintosh computer.
The e5500 has a similar instruction set to the 605 series for the most part, so you may get parts working, but the underlying hardware will differ, so you may need to patch something to make it fully work.
I've had headaches just getting MOL to run on a Mac, so I can guarantee it won't be a simple "run this and it works" situation.
Also, the latest version of MOL isn't the one on the official download page; there's a more recent one on github somewhere (can't remember where at the moment).
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