Hi Setu,

I know that this software is meant for
Overo board but by any chance can it be installed on a Linux machine
creating a Linux image!! If so then what modifications needs to be
done and in what modules??

Why don't you strip the standard Fedora 10 x86 distribution and use that with x86, and apply all the real-time kernel patches?  

The overo s/w package is a cross compiled version of linux kernel plus utilities for the arm architecture. 

Are you using an x86 processor based embedded board, like this one : SVME/DMV-1901 6U Intel Core2 Duo - Curtiss-Wright Controls Embedded Computing