I followed up Yann's advice in the "dld/bfd once again..." post, and came up with a hack/solution. The problem is indeed that lush can't find its executable. In cygwin, the executable ends with .exe, and lush only searches for an executable named "lush", even if you explicitly type "lush.exe" to start lush.
If you go into the lush bin directory and create a link to "lush.exe" called "lush", all is well with loading modules:
ln lush.exe lush
The lush executable is now in a new place when make finishes, so the earlier solution changes slightly for more recent lush version:
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