Uh, hold on... this was ported already back in July:
http://www.gp32x.de/board/index.php?/topic/55561-mtpaint-pnd-available/
It was on the PandoraWiki software list, too:
http://pandorawiki.org/Software_projects
Please, coders, check PandoraWiki before porting things, to avoid duplication of effort. It's pretty much the only place where all software for Pandora is listed.