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It appears it needs more logic to handle the CMAKE_GENERATOR variable.
If a visual studio generator is going to be used, then it'll probably need logic to determine which version of visual studio it is to choose the correct visual studio generator (because of project file format changes).  For example, the correct generator could be any of "Visual Studio 10" "Visual Studio 10 Win64" "Visual Studio 11" etc...
http://www.cmake.org/cmake/help/v2.8.10/cmake.html#section_Generators

If NMake Makefiles are still used to build Qt with MSVC, then perhaps you can simply set the generator to "NMake Makefiles".

Clint