That version of make file have problems with spawning subprocess of launched command. The problem and the solution (patches) is given there:
http://old.nabble.com/process_begin%3A-CreateProcess%28NULL%2C-%22%22%2C-...%29-failed-td16106327.html
I do not know who maintain binaries of the GnuWin32 itself, however the whole tool is really important for the community. Thank you for your hard work.
Hello I am clearing out all old bugs. You filed this bug in the wrong place, it would have to be filed with the GnuWin32 project. The project seems to be abandoned. I am only responsible for the downloader which I have left up for legacy purposes.
If you are still interested in filing you would do so here:
https://sourceforge.net/p/gnuwin32/bugs/milestone/Make/