I started over and used macports to install libusb. I made sure to have the following:
$ port installed | grep libusb
 libusb @1.0.18_0 (active)
  libusb-compat @0.1.5_0 (active)
  libusb-legacy @0.1.12_4 (active)

I was using brew before and now have the following:
$ brew list
autoconf automake sdl

I pulled libdc1394.2.2.2 from the following url as the latest version listed on source forge has 2.2.1 listed:
http://sourceforge.net/projects/libdc1394/files/libdc1394-2/2.2.2/

I have made progress as the output is now that no cameras are found! So I think that issue is resolved.
$ ./helloworld 
libdc1394 error: No cameras found

I now need to dig up another camera as the one I was using is not showing up for some reason. So I donít know if it is the camera or still libdc1394 not working properly. I tried the otool command listed and did not get the same results:
$ otool -L ./helloworld
./helloworld: is not an object file

I am not sure why that could be the case. Any suggestions? I am attaching the last few lines from the output of configure, make, and make install.

$ ./configure 
Configuration (libdc1394):

    Linux support:                      Disabled (Linux not detected)
    Mac OS X support:                   Enabled
    Windows support:                    Disabled (Windows not detected)
    IIDC-over-USB support:              Disabled (libusb-1.0 not found)
    Build examples:                     Yes
      Build SDL/OpenGL examples:        No
      Build XV examples:                No
      Build V4L examples:               No

$ make
mv -f .deps/basler_sff_extended_data.Tpo .deps/basler_sff_extended_data.Po
/bin/sh ../libtool  --tag=CC   --mode=link gcc  -Wall -Wunused -std=gnu99 -g -O2 -framework CoreFoundation -framework IOKit  -o basler_sff_extended_data basler_sff_extended_data.o ../dc1394/libdc1394.la -lm 
libtool: link: gcc -Wall -Wunused -std=gnu99 -g -O2 -o .libs/basler_sff_extended_data basler_sff_extended_data.o  ../dc1394/.libs/libdc1394.dylib -lm -framework IOKit -framework CoreFoundation -framework CoreServices
make[2]: Nothing to be done for `all-am'.

$ make install
make[2]: Nothing to be done for `install-exec-am'.
 ./install-sh -c -d '/usr/local/lib/pkgconfig'
 /usr/bin/install -c -m 644 libdc1394-2.pc '/usr/local/lib/pkgconfig'