I read it carefully. I can download the kernel 2.6.16 from kernel.org, and the corresponding patch from openvz, but no *.config.ovz for SPARC64 available on openvz. I do not have a .config available.
I tried to use the old config for 2.6.15 instead, not working.
Can you find a *.config.ovz for SPARC64 on openvz.org?