Hijack kernel is developed by patching the original kernel (patches incorporate changes by Mark Lord, Richard Lovejoy and I think some others). If you wish, you can download original kernel source from empeg, Mark's and other's source patches from Mark's site, perhaps add some of your own and recompile the beast. However, Mark does all that for us, so the only thing I do is download precompiled kernel from Mark's site.
Also note that the kernel is not the only part of empeg SW distribution. It generally consists of two parts: PC client (emplode for Windows, emptool for Linux) and the part that goes to the player (.upgrade file). The later consists of kernel and root partition image (the most important part of which is the player executable itself).
So, what we do when the new empeg SW distribution appears is this: install PC client software, install the full player software, modify it by replacing stock kernel with Mark's Hijack.
Any clearer now?