This is a known thing (not strictly a bug).
For building (under any platform) you need the Qt development tools installed (not just PyQt).
So, for now, you may need to install Qt SDK or just use the pre-packaged windows binaries [*]
It is a pity to add such build dependency for just compiling the icons, but we will probably get rid of it soon (we are planning to change the way icons are handled, and get rid of the .rcc files).
[*] as a note: I don't have Qt installed on my windows machine myself. I create the windows binaries from GNU/Linux
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This is a known thing (not strictly a bug).
For building (under any platform) you need the Qt development tools installed (not just PyQt).
So, for now, you may need to install Qt SDK or just use the pre-packaged windows binaries [*]
It is a pity to add such build dependency for just compiling the icons, but we will probably get rid of it soon (we are planning to change the way icons are handled, and get rid of the .rcc files).
[*] as a note: I don't have Qt installed on my windows machine myself. I create the windows binaries from GNU/Linux