I am sorry about this problem. I have had a look and I understand what is happening but not how to fix it. Python 3.2 does not provide a timeout in the subprocess module. fbuild is using a module by Peter Astrand which derived a new class and adds a timeout. Unfortunately Python 3.3 adds the exact same argument to the API, but defaults it no None, which is clobbering the value used in the derived class somehow, leading to timeout of None being added to a floating point value.
http://pastebin.com/raw.php?i=WzB5Jqyf