If a minimig variant was designed using a Xilinx Virtex4 (with PowerPC core) would it be capable of running AmigaOS4 (or MorphOS)?
Those variants already exist. They are called Efika and SAM. Seriously, if it has a PPC core, it would no longer be a Minimig, would it?
The Minimig is a re-implementation of a classic 68k Amiga with custom chips, crammed onto a very small PCB. AmigaOS4 has got nothing to do with classic Amigas, it will never run on a classic Amiga either (unless you have a PPC accelerator). Next question please :-)