I just installed it and it runs just fine.
To install:
ipkg install mgp_1.10a_arm.ipk
To list contents:
ipkg files mgp
//
//usr/
//usr/local/
//usr/local/bin/
//usr/local/bin/mgp
//usr/local/lib/
//usr/local/lib/libttf.so.2
libtff is included in /usr/local/lib, I download the source to mgp and extracted the sample directory and ran mgp sample.mgp from xterm in Xqt. Works just fine.
Make sure that /usr/local/lib is in /etc/ld.so.conf, if not add it, save, then type: ldconfig.