Hmm, this has to do with how we tell the libraries to find one another on Mac nowadays. It’s a bit of a tricky situation that does not have a universal solution on Mac.
The most straightforward thing you could do is put your own application in a subdirectory of /Developer/Panda3D (or move the whole thing to a more convenient location). This will make sure the Panda dylibs can be read in the …/lib/ directory relative to the location of the binary that’s loading them.
Another solution would probably involve using “otool -L” and “install_name_tool” to change the way the libraries are referenced.