Here's a patch that makes Loki compile for Windows CE 5.00 and later using Visual Studio 2008 SP1 to compile. Tested with the publicly available Windows CE 5.0 Standard SDK headers.
The patch consists of nothing more than a few hacks to get it working. Caveat: because I had to circumvent the clock() function, changing the system time (or a DST cross) _will_ make LevelMutexes timeout early or wait far too long. Everything else should be working exactly like on a desktop PC.