It looks that in latest version when IOS_PLATFORM is set to "OS64" a toolchain scripts sets wrong flags for minimum required OS version: it sets "-mios-simulator-version-min" instead of "-mios-version-min" because corresponding if/elseif block that checks for value of IOS_PLATFORM is missing check for "OS64" value (it must treat it the same as "OS", I think).
Current workaround is to use "-DIOS_PLATFORM=OS" and manually select architectures with "-DIOS_ARCH=" if they need to be customized.