Well I am pretty sure you met this yourself already, but current trunk does no build for me anymore. The reason is that the file "LiteEditor.txt" passed to make is too long and gets truncated. Therefore, linking fails.
I just wonder how you solved it using current CL 4.1?
Its not. There was a bug in the I implemented the file creation (I used ECHO command in the makefile).
However, there is a definitely a bug in the command line argument length that g++ can accept - windows limits the length to 16K or something like that.
So passing a single file name instead of passing a very long string which contains hundreds of object file names is the correct way to go