Here is a copy of the error message I received when I booted this iMac in target mode of another iMac:
Interval Since Last Panic Report: 14 sec
Panics Since Last Report: 1
Anonymous UUID: 70E0AA1E-2E96-4985-B765-C02213996D25
Tue Sep 25 08:16:30 2012
panic(cpu 1 caller 0x2a6ac2): Kernel trap at 0x00000000, type 14=page fault, registers:
CR0: 0x8001003b, CR2: 0x00000000, CR3: 0x25561000, CR4: 0x00000660
EAX: 0x064cc004, EBX: 0x064cc004, ECX: 0x00000080, EDX: 0x0525b004
CR2: 0x00000000, EBP: 0x2fdb32d8, ESI: 0x0525b004, EDI: 0x076a4a04
EFL: 0x00010206, EIP: 0x00000000, CS: 0x00000008, DS: 0x064c0010
Error code: 0x00000010
Backtrace (CPU 1), Frame : Return Address (4 potential args on stack)
0x2fdb30d8 : 0x21acfa (0x5ce650 0x2fdb310c 0x223156 0x0)
0x2fdb3128 : 0x2a6ac2 (0x590a50 0x0 0xe 0x590c1a)
0x2fdb3208 : 0x29c968 (0x2fdb3220 0x3425 0x2fdb32d8 0x0)
0x2fdb3218 : 0x0 (0xe 0x76a0048 0x2fdb0010 0x37030010)
0x2fdb32d8 : 0x3703e98a (0x525b004 0x64cc004 0x2fdb3344 0x0)
0x2fdb3368 : 0x3703cab1 (0x525b004 0x64cc004 0x2fdb33a8 0x36f66a6f)
0x2fdb33a8 : 0x3703b696 (0x525b004 0x64cc004 0x1 0x0)
0x2fdb3438 : 0x370
Model: iMac8,1, BootROM IM81.00C1.B00, 2 processors, Intel Core 2 Duo, 2.4 GHz, 1 GB, SMC 1.29f1
Graphics: ATI Radeon HD 2400 XT, ATI Radeon HD 2400, PCIe, 128 MB
Memory Module: global_name
AirPort: spairport_wireless_card_type_airport_extreme (0x14E4, 0x8C), Broadcom BCM43xx 1.0 (5.10.91.19)
Bluetooth: Version 2.2.0f18, 2 service, 1 devices, 1 incoming serial ports
Network Service: AirPort, AirPort, en1
Serial ATA Device: Hitachi HDP725025GLA380, 232.89 GB
Parallel ATA Device: MATSHITADVD-R UJ-875
USB Device: Built-in iSight, 0x05ac (Apple Inc.), 0x8502, 0xfd400000
USB Device: Keyboard Hub, 0x05ac (Apple Inc.), 0x1005, 0xfd100000
USB Device: Apple Optical USB Mouse, 0x05ac (Apple Inc.), 0x0304, 0xfd130000
USB Device: Apple Keyboard, 0x05ac (Apple Inc.), 0x021d, 0xfd120000
USB Device: USB Optical Mouse, 0x093a (Pixart Imaging, Inc.), 0x2510, 0x1a200000
USB Device: BRCM2046 Hub, 0x0a5c (Broadcom Corp.), 0x4500, 0x1a100000
USB Device: Bluetooth USB Host Controller, 0x05ac (Apple Inc.), 0x820f, 0x1a110000
USB Device: IR Receiver, 0x05ac (Apple Inc.), 0x8242, 0x5d100000
FireWire Device: Target Disk Mode, AAPL, Up to 400 Mb/sec