sed 's/-o bin/-o root/' :
Adjusts the Makefile so that the program is installed with user root instead
of user bin (which doesn't exist on a default LFS system).
make install: Installs traceroute setuid root
in the /usr/sbin directory. This makes it possible for all users to execute
traceroute. For absolute security, turn off the setuid bit in traceroute's
file permissions with the command
chmod 0755 /usr/sbin/traceroute
The risk is that if a security problem such as a buffer overflow were
ever found in the traceroute code, a regular user on your system could gain
root access if the program is setuid root. Removing the setuid permission
of course also makes it impossible for users other than root to utilize
traceroute, so decide what's right for your individual situation.
Now, to be completely FHS compliant, as is our aim, if you do leave the
traceroute binary setuid root, then you should move traceroute to /usr/bin
with the following command:
mv /usr/sbin/traceroute /usr/bin
This ensures that the binary is in the path for non-root users.