How to compile V-USB for arduino?

Simply put, I downloaded a port of V-USB for Arduino and can't seem to compile the example that came with it. I get the following message when trying to compile using Arduino IDE 1.0.1

avr-gcc: error: unrecognized command line option '-assembler-with-cpp'

I understand that this is most likely version incompatibility issue and could be avoided by downgrading my avr-gcc to an older version, but is it possible to do some trick to make it compile using the up to date version of avr-gcc?

Just a few notes about environment I'm trying this on

OS: Fedora release 17 (Beefy Miracle)
avr-gcc: (Fedora 4.7.2-1.fc17) 4.7.2
Arduino IDE: (arduino-1.0.1-1.fc17) 1.0.1

Solution

With the hints from Jester I managed to solve this problem by updating the IDE to version 1.0.3 (1.0.2 might work as well) and it worked like a charm.

So I guess the problem wasn't the code or compiler, the problem was that the IDE 1.0.1 was expecting an older version of the avr-gcc and used a deprecated flag for compiling and simply failed since that flag is no longer available on the new compiler so you either have to downgrade the compiler or upgrade the IDE and from my perspective, upgrading is always the right choice to make.