there's already a tutorial (though, there's nothing special to it) :
http://gbatemp.net/index.php?showtopic=169078
read the bottom part of the message, it's even easier with giantpune method.
just be sure to use the libogc version corresponding to the loader revision you want to compile. (look in the "download tab" on google code to know which lib_version/loader_revision matches).
I guess you want to compile a r940+, so you would want to use the "libogc pack for devkitPPC r21 needed for R940+".
remember, don't post issues on google code regarding the new revisions without official build, they will be closed right away.
Here is a quick recap guide for windows :
for all the files, check the link I posted.
A) compiler installation :
1. install sliksvn and tortoisesvn
2. Download Devkitpro and update to the latest revision.
3. Replace "include" and "lib" folder in your c:/devkitpro/libogc/ folder with the provided zip from usbloaderGX website.
Attention: this version of libogc will work only for compiling USBloaderGX. keep a copy of your original libogc folder if you want to compile other homebrew.
4. Reboot your computer to register the environment variables correctly.
B) Source code compiling :
1. create a new folder located on your HDD, and be sure to place it in a path NOT containing a space. (drive:/homebrew/wii/usbloaderGX/ is a very good place)
2. go inside the new created folder and rightclick, select SVN checkout and write this :
http://usbloader-gui.googlecode.com/svn/trunk/
3. once downloaded, doubleclick the gui.pnproj file, it will open programmer's notepad. Hit Alt+1 to compile.