At page 62 the QVT spec specifies that "at the end of the execution of main, the deferred assignments - if any - are executed in sequence (see ResolveExp)".
Therfore the keyword 'last' should result in defering resolution to the end of the main section. As far as I understand the generated source, the resolution is deferred until the end of the mapping rule and the keyword last is parsed but has no effect.